EB Watch List Update Report

Dear Members: MARKET NOTE: The market is up and running after the three day weekend and so far all of the major indexes are lower. What makes this week so interesting? How about the end of one presidency and the beginning of another? That qualifies as something that doesn't happen often and peaks the interest of traders. From a purely technical perspective all of the major indexes are above all key technical levels which is bullish. On the other hand, both the Dow and S&P have been stuck since they reached their respective all time highs and that 20,000 level on the Dow has so far been elusive. The NASDAQ has held up the best, just one day removed from its all time high. In looking at the VIX it was up sharply early in the session and is still up over 7% and is straddling its 20 day moving average. So traders are showing some nervousness today. Government bond yields continue to move lower with the 10 year treasury note now trading below both its 20 and 50 day moving averages. This tells me traders are seeking safety with uncertainty looming. Overall the picture is mixed; it wouldn't take much for all of the major indexes to get to new all time higher. On the other hand the market has stalled; traders have become a bit more cautious. Let's remember something else here; we're about to get an onslaught of corporate earnings over the next several weeks. The combined results of thousands of companies will no doubt impact the market. And it's coming just as a new Administration is about to occupy the White House. This now doubt will result in a highly volatile market environment so we need to tread lightly here while protecting capital until we get through this week while seeing if the major indexes can put in new all time highs or if they retreat any further. In the meantime we can use 2260 as support on the S&P while 2282 remains resistance. KEY EARNINGS REPORTS Companies reporting earnings today (January 17) include: CMA, CSX, HBHC, IBM, MS, UAL and UNH Companies reporting earnings tomorrow (January 18) include: SCHW, C, FAST, GS, NFLX, NTRS, RJF, SLM. AMTD and USB ADDITIONS TO WATCH LISTS: None at this time BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - This stock has stalled after showing some potential last week and is now back below its 20 day moving average. It's most likely to move along with the overall market. I'm going to keep a close eye on this one and let you know if the stop, now at $99.35, changes. Mid Cap Watch List NUAN - Stock is up slightly as it touched its 200 day moving average earlier in the session. It really needs to clear that level, now at $15.70, to have a chance of further movement to the upside. Small Cap Watch List TRUE - This stock is in consolidation mode as it straddles its 20 day moving average. Still want to see it close above $13.08 would be a positive. DELETIONS FROM OUR WATCH LISTS: None at this time At your service, John Hopkins EarningsBeats