EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: ADBE, DSW, FDS, ORCL Wednesday: FDX, GES, GIS, JBL, KBH, VRA MARKET NOTE: Our major indices are moving closer to recent closing highs, setting the stage for either a breakout to fresh all-time closing highs or failure at key levels and a potential double top. It will be interesting to see which prevails on Wednesday afternoon as we'll get the latest FOMC policy decision from Fed Chair Janet Yellen. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: No key technical developments today. Large Cap Watch List: FFIV - Up fractionally today, but long-term negative divergence remains problematic near-term. TEL - Gaining strength, but doing so on light volume. 60.00 is the short-term target. UA - More strength showing today on solid volume, one day after the announced 2:1 stock split. Mid Cap Watch List: ATK - Volume has been dwindling. Pay particular attention if symmetrical triangle is broken on heavy volume. My educated guess suggests it'll break higher. GMT - Current rally may be doomed with shrinking volume and potential ugly divergence in play on next breakout. KFY - Close above 29.39 represents next breakout. Will need more volume to confirm. MELI - For second straight day has printed a higher high. Would like to see this streak continue. TTEK - Nice recovery off 20 day EMA. MACD is strong, so I'm expecting a further rally here. Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: There are no additional deletions today unless Closing Stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com