EB Watch List Update Report

MARKET NOTE: Dear Members: Inauguration day is here and so far the market is behaving well. All of the major indexes, including the Dow, are above all key technical levels. The VIX is down over 6% and is back below all key technical levels. In other words, less fear today than the past few sessions. Even though the market has known for a long time that a new president would be sworn in today there's something calming about it actually happening regardless of what might happen down the road. And again, it's happening smack in the middle of earnings season. So when all of the hoopla is over today traders will immediately turn their attention to next week when earnings season kicks into high gear. We continue to see the S&P bounce off of its 20 day anytime it looks like selling will pick up. Now the bulls want to try and do more than be defensive; they would like to take another shot at the all time high of 2282. Will today be the day? We'll know by 4:00 pm eastern. In the meantime we'll want to continue to keep an eye on that 20 day, now at 2263. The longer it holds the better chance the bulls have of revisiting the all time high. KEY EARNINGS REPORTS Companies reporting earnings today (January 20) include: GE, LM, PG, RF, SLB and STI Companies reporting earnings Monday (January 23) include: BOH, HAL, MCD, YHOO and ZION ADDITIONS TO WATCH LISTS: Like to get through today and see how market performs. Will let you know if I spot a high risk to reward candidate. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List NVDA - Stock is down around 1% but remains above all key technical levels. So far it's put in a higher high today and would be bullish if it closes in positive territory by the time the market closes. Mid Cap Watch List NUAN - Stock is flat as it remains above all key technical levels. Would love to see it close back above $16 which would be bullish. Small Cap Watch List FRAN - Stock failed to make the move we would have liked to see and closed below $18 yesterday triggering a stop so will be removed from the Watch List. TRUE - Stock is down by almost 2% today but still remains above all key technical levels. Still want to see it close above $13.08 which would be a positive. DELETIONS FROM OUR WATCH LISTS: We are removing FRAN from the Watch List as it closed below its stop loss level I want to wish everyone a restful weekend and will be back Monday morning with my EB Watch List Update Report At your service, John Hopkins EarningsBeats