EB Watch list Update Report

MARKET NOTE: Dear Members: Sometimes when trading it's Close but no Cigar. Seems that's the case with the S&P at the moment as it failed once again to clear 2300 yesterday just when it looked like the bulls were ready to celebrate. Generally when a stock or major index continues to fail to clear an important level traders can get impatient which might be the case soon. But I keep seeing a bunch of other reasons the market might give it up and it continues to hold amazingly well. We should also remember that when you get near territory never seen before, like Dow 20,000 or S&P 2300, there's no road map. It's seen both as a potential top as well as a place for new opportunities so a battle takes place with sell programs in place that must be topped by buy programs and orders. So far that has not been the case. The little bit of selling we saw earlier in the session might have helped to take some steam out of the NASDAQ but it remains technically stretched, making it more difficult to advance. So far the VIX is showing fear remains much closer to all time lows than all time highs. So in spite of everything that has occurred since the November election traders remain confident the market can go higher. The trading range of the S&P remains extremely tight; now 2281 to the downside and 2300 to the upside. That's not much room to work with and why so many stocks are more in consolidation mode rather than breakout mode. If the bulls can finally clear that 2300 level that could garner some new excitement. If it moves lower then we might see some better entry levels on stronger stocks. KEY EARNINGS REPORTS Companies reporting earnings today (February 8) include: ALK, AGN, BVSN, CG, CTSH, DNB, EFX, EXC, FISV, GSK.L, GT, GRUB, HSIC, HUM, LVLT, OC, PRU, SIEMENS.NS, SU.TO, TWX, TRMB, GRA and WFM Companies reporting earnings tomorrow (February 9) include: AGU.TO, BWA, CSL, CERN, KO, CMI, CVS, DTE, DNKN, EXPE, GCI, JCOM, K, KMPR, KKR, MAS, MHK, NCR, NWSA, NLSN, NVDA, OXY, RAI, SW.TO, GLE.PA, SON, TARO, TCO, T.TO, TRI.TO, TWTR, VRSN, VIAB, WU, YELP and YUM 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 - Consolidation continues with resistance at $24.50. Clearing that level would put the stock in position to rise further. Small Cap Watch List TRUE - Stock has pulled back to its 20 day moving average after topping near $13.85 on Monday. This remains the level it needs to clear to move a step further to our target of $14. JKS - Stock is pretty flat with the next level of resistance now at $14.86. 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