EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: ADI, AUY, CF, DUK, GPC, HLF, KO, LZB, MDT, NBR, OII, PNRA, SINA, WM Wednesday: AWAY, DVN, EQIX, EQY, EV, GRMN, LL, LOCK, MAR, MGM, SNPS, SWY, TSLA, WMB NOTE: The current rally appears to be getting a little long in the tooth as there is now a long-term negative divergence on the NASDAQ weekly chart and the underlying strength appears to be coming mostly from defensive areas of the market. Historically, the 19th to the 27th is the most bearish part of the calendar month and options expire this Friday. This all points to needing to be careful, especially on the long side. Don't be afraid to bank nice profits. ADDITIONS TO WATCH LISTS: There are no additions today. We're deliberately being mindful of the overall warning signs in the market and avoiding Watch Lists that grow too large. The stocks we have on our Lists have mostly proven to be solid and we're content with that for now. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List: CNQR - Great action, but we're taking profits right here. Our Target Price is 138, but CNQR has risen 15 bucks since our entry and we're challenging recent the recent price high. Coming off at 128.03 - GREAT TRADE!!! LEN - Considering the awful Housing Market index number reported earlier today, LEN is holding up well. ROC - We took profits on Friday and 74.25 resistance is holding for now. TEL - Nearing 58.00. A close above would be bullish, especially if volume accelerates. Mid Cap Watch List: ATK - Bouncing off 50 day SMA support thus far. We just missed our Second Entry at 127.00. GMT - The fresh closing high on Friday did print a long-term negative divergence. Therefore, we're raising our Closing Stop to 60.00 to avoid riding this one down to a potential 50 day SMA test. TTEK - A high volume close above 29.00 would be bullish as it would be a breakout of a symmetrical triangle continuation pattern. Small Cap Watch List: TASR - Patience paying off here with a 5.85% gain at last check. DELETIONS FROM OUR WATCH LISTS: There are no scheduled deletions today, however, stocks will be removed if they violate our Closing Stop levels. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com