EB Watch List Update Report

MARKET NOTE: Dear Members: The bulls continue to dominate the momentum with all of the major indexes up nicely this morning. The bulls didn't waste much time getting the Dow back over 20,000 with the S&P closing in on its all time high. The VIX is down 6% as the bit of fear we saw earlier in the week has dissipated. The jobs report this morning showed strength, albeit a little weak when it comes to wage increases, but easily beating expectations. In some ways the market is in a sweet spot; decent GDP growth but not enough for the Fed to go wild with rate increases. In addition strong enough earnings for traders to feel confident to be long. Some additional good news for the bulls; none of the major indexes is technically overbought. The NASDAQ had gotten ahead of itself but the pullback earlier in the week took care of that issue. The key to me at the moment is the S&P which has struggled at the 2300 level. If it can close above that level into the weekend it would be bullish. But it hasn't happened yet; there's still plenty of time left in the trading day. Another stall job could keep some traders on the sidelines. But right now we've got to give the bulls the benefit of the doubt until we see signs that the buying is over. KEY EARNINGS REPORTS Companies reporting earnings today (February 3) include: AN, BEBE, CLX, HSY, MSG, PSX and WY Companies reporting earnings Monday (February 6) include: CBOE, DO, FMC, HAS, JLL, L, NWL, RRS.L., SYY, TSO and TSN 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 JBL - Stock is up almost 1% and a close above $24.39 would be bullish NUAN - This stock doesn't budge much but is still trending higher. $16.48 remains our target. Small Cap Watch List TRUE - Continues to consolidate. $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 I want to wish everyone a relaxing weekend and I will be back Monday morning with my EB Watch List Update Report At your service, John Hopkins EarningsBeats