EB Watch List Update Report

MARKET NOTE: Dear Members: The headlines continue to show some controversial issues and the Fed shied away from proclaiming any interest rate raises are near and traders don't really seem to care with all of the major indexes flat or higher. There was some talk this morning that any discussions and action on tax reform and infrastructure spending will be pushed off until spring but that seems to be OK with traders as well. They just want to make sure it has not been forgotten. The VIX was higher earlier in the session but is now flat as traders seem to be willing to give the benefit of the doubt that the future will be rosier. In what has become the norm of late the S&P held right where it needed to while the Dow continues to lag and the NASDAQ shows the most strength. It didn't hurt that AAPL had blowout earnings numbers and Facebook was solid as well. Having two tech giants beat expectations reminds traders that tech stocks are where it's at these days. Tomorrow brings the monthly jobs report with the bulls hoping it shows as much strength as yesterday's ADP report. Where it used to be good news was not always wanted it sure seems to be a plus when economic reports exceed expectations. We're in a period of the year where the market is vulnerable so it would not be surprising to see some profit taking at any time. But as long as traders continue to commit their dollars to stocks the market should remain in decent shape. KEY EARNINGS REPORTS Companies reporting earnings today (February 2) include: AMZN, AMGN, BLL, BSX, CMG, CI, CME, COP, CY, DAI.DE, DLPH, DBK.DE, ETN, EL, IT, HBI, HRS, HAYN, IP, LAZ, MMC, MRK, NOKIA.HE, PH, PM, RL, RDSA.AS, RGLD, R, SIRI, TDY and V Companies reporting earnings tomorrow (February 3) include: AN, BEBE, CLX, HSY, MSG, PSX and WY ADDITIONS TO WATCH LISTS: We will be updating our Candidate Tracker soon with some fresh trading candidates on companies that beat earnings expectations. Will keep you posted. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List None at this time Mid Cap Watch List NUAN - Stock continues to consolidate. $16.48 remains our target. Small Cap Watch List TRUE - Stock continues to consolidate nicely above its 20 day moving average. $14 remains our target. JKS - Stock is up another 1% today with the next level of resistance at $14.80. If it can close above that level then $15 could come into play. DELETIONS FROM OUR WATCH LISTS: None at this time At your service, John Hopkins EarningsBeats