EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: AZO, BNS, RSH, SWHC Wednesday: BYD, HOV, KFY, PETM, REV MARKET NOTE: Russian President Putin has recalled troops away from the Ukrainian border and global stock markets have responded favorably. In the short-term, this has enabled the bulls to completely regain control of the action, but many longer-term issues still need to be resolved. Stay on your toes, this is a very difficult trading environment with plenty of whipsaw action. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: SJM - After closing on Friday at 100.01, today's open was 99.99. Continue to keep a close eye on that 100.00 level. A close much above it and I'd take a small loss on the short and move on. Large Cap Watch List: CNQR - Can it recapture its 20 day EMA. CNQR could be setting up in an ascending triangle pattern, but it's a little too early to tell. FFIV - Bounced off its 20 day EMA, which is nice, but the long-term negative divergence remains. Careful here. MCO - Moving up nicely off our initial entry and yesterday's 20 day EMA test. TEL - Only 25 cents away from 59.74 resistance with its RSI touching 70. We're taking profits here, although TEL will remain on our Watch List. GREAT TRADE!!! UA - Solid bounce today after nearly testing its rising 20 day EMA on Monday. Mid Cap Watch List: ATK - Break over 140.00 on the close could signal breakout of an inverse head & shoulders pattern that measures to 153.00 or so. RRD - Moved just beneath the support we identified at 18.50 on Monday, then reversed. Technically, back on strong footing today. SSTK - Up slightly after triggering our Initial Entry on Monday at 98.50. TTEK - We're taking profits here at 30.14, which is closing price resistance. GREAT TRADE!!! If it closes above this level today, the target would be 32.50-32.75. TTEK will remain on our Watch List. Small Cap Watch List: MRIN - Our Second Entry point of 10.73 was triggered on Monday and MRIN has recovered nicely since. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless Closing Stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com