EB Watch List Update Report

Dear Members: MARKET NOTE: I made a point in yesterday's Market Update to point to the importance of the Dow and S&P holding their respective moving averages, that it would be bullish. They both did hold, right on cue, and today both are slightly higher, with the NASDAQ stealing the spotlight as it hits yet another all time high. The VIX is lower again today after showing brief signs of worry yesterday. But when the market held and turned traders felt some relief. For sure the NASDAQ is stretched here. Stochastics are nearing 97 with the RSI closing in on 70. We got some big bank earnings this morning and so far so good. Now we can look forward to a boatload of earnings starting next week. We're coming upon a three day weekend and it will be interesting to see if traders are willing to hold their positions into next week. The S&P remains within striking range of its all time high of 2282 and the willingness of traders to step in and go long on the dip yesterday shows us that the bulls are not going way easily. But the 20,000 level on the day remains elusive. So it's a mixed picture with no confirmation that the market will go higher here and with the long weekend upon us a good time to take it easy. Once we see how the market starts out next week we'll be in a better position to see if it makes sense to get more aggressive. . KEY EARNINGS REPORTS Companies reporting earnings today (January 13) include: BAC, BLK, JPM, PNC and WFC Companies reporting earnings Tuesday (January 17) include: CMA, CSX, HBHC, IBM, MS, UAL and UNH ADDITIONS TO WATCH LISTS: Meant to update the Candidate Tracker yesterday but had to delay to today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - Stock continues to trade above all key technical levels. It's going to need to clear the recent high of $109.19 to make further progress. Mid Cap Watch List NUAN - Stock is flat today and will need to move back above the recent high of $16.12 to have a shot at our target of $16.48. Small Cap Watch List TRUE - Stock is trying to get back on track and a close above $13.08 would be a positive. DELETIONS FROM OUR WATCH LISTS: None at this time I want to wish everyone a restful holiday weekend and will be back with my EB Watch List Update Report on Tuesday. At your service, John Hopkins EarningsBeats