EB Watch List Update Report

MARKET NOTE: Dear Members: The bulls get high marks for being stubborn here. Earnings season is winding down, every major index is technically overbought, the Fed is hinting at further rate increases and there are a lot of uncertainties facing the market. The result? A pretty flat day. Though the major indexes are very overbought the bulls will point out it took them a long time to clear 2300 on the S&P and that there's still plenty of room to run. Maybe that's true. The VIX is below all key technical levels showing calm nerves. But I have noticed it has stopped falling, even with the market having moved higher. So to me that shows at least one finger on the sell button in case traders quickly decide to start booking profits. I hesitate to predict where the S&P might go from here should the buying continue but 2350 would seem to be the next level the bulls would like to shoot for. To the downside you can bet the bulls will fight hard to protect 2300. Bottom line: Would not be looking to add on the long side here even if the market does move higher some. Technical indicators show there could be a pullback at any time. So best to be a bit more conservative at the moment. KEY EARNINGS REPORTS Companies reporting earnings today (February 14) include: BYD, CZR, DVN, DPS, ESRX, FLIR, LC, MLM, MASI, TAP, TMUS and TRU Companies reporting earnings tomorrow (February 15) include: ABN.AS, ADI, AMAT, ABX.TO, CBS, CHH, CGX.TO, CSCO, GDDY, G.TO, GRPN, HUN, KHC, MRO, MAR, NTAP, NTES, NGD.TO, PHH, PGR, SNPS, TRIP, WMB and WYN ADDITIONS TO WATCH LISTS: I continue to be reluctant to put out any new alerts here with the market so stretched. Like to see at least some pullback before adding. 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 - This stock was removed from the Watch List yesterday as it hit our price target. GREAT TRADE! Small Cap Watch List TRUE - Stock is fairly flat as it continues to consolidate just above its 20 day moving average. A close above $13.47 would be very bullish. JKS - This stock was removed from the Watch List yesterday as it hit our price target. GREAT TRADE! DELETIONS FROM OUR WATCH LISTS: None at this time At your service, John Hopkins EarningsBeats