EB Watch List Update Report

MARKET NOTE: Dear Members: Another trading day and week is under way and so far it is uneventful. That's not so bad considering the nice move the market has made and some of the underlying concerns that have at least some traders skeptical. In looking at the VIX it's off session highs and now back below all key technical levels. In other words, traders are giving the market the benefit of the doubt, future uncertainties not-withstanding. While we'll get more earnings reports this week, many of the highly visible companies have reported their numbers for the quarter. How did they do? Based on how well the market is holding up it appears traders were pleased with overall results. One thing that continues to hold the market up from moving even higher is the S&P which is stuck below its all time high of 2300. It's tried several times to clear that level with no success. The good news for the bulls is if it finally does crack that level there could be some more room to the upside. This week is different than last week as there aren't nearly as many key economic reports or the Fed on tap that could impact the market. So traders will be looking for any new developments or information that might affect the market. In the meantime we need to continue to give the bulls the benefit of the doubt here until there's further evidence that the rally that has taken place since early November is over. It's a pretty narrow trading range on the S&P at the moment; 2300 to the upside and 2280 to the downside. It wouldn't take much for the bulls to power the S&P back above that 2300 level but as we've seen of late sometimes even a few points can make a very big difference. KEY EARNINGS REPORTS Companies reporting earnings today (February 6) include: CBOE, DO, FMC, HAS, JLL, L, NWL, RRS.L., SYY, TSO and TSN Companies reporting earnings tomorrow (February 7) include: AKAM, ARMK, ADM, AIZ, BWLD, CAH, EMR, GM, GILD, ICE, KORS, MCHP, MDLZ, MOS, NUAN, ORLY, PNRA, PAG, SAVE, TTWO, TEN, TDW, DIS, WCG and ZG ADDITIONS TO WATCH LISTS: We will be updating our Candidate Tracker soon with lots of 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 fairly flat and any move and close above $24.50 would be bullish. NUAN - PLEASE NOTE: This stock reports its earnings after the bell so WILL BE REMOVED from the Watch List prior to the market close today since we have no way of knowing how the market will respond to its earnings. Small Cap Watch List TRUE - Stock made a strong move this morning before pulling back some. Really want to see it close strong as so far it's printed a black candle which can sometimes indicate a reversal. $14 remains our target. JKS - Stock is up almost 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: We will be removing NUAN from the Watch List before the market closes as it reports earnings after the bell tonight. At your service, John Hopkins EarningsBeats