EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: FDX, GES, GIS, JBL, KBH, VRA Thursday: CAG, LEN, NKE MARKET NOTE: The Fed has spoken. The Fed reduced its bond purchase program by $10 billion to $55 billion per month, as expected. The Fed also dropped its pledge to tie borrowing costs to a 6.5% unemployment rate. The stock market reacted in a volatile manner, dropping initially, then recovering. In the meantime, the 10 year treasury yield ($TNX) climbed, but still must negotiate 2.80% resistance to suggest a further selloff in treasuries. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: SJM - A close beneath 96.00 could trigger additional technical selling. Large Cap Watch List: FFIV - Rallying nicely, but remains range bound and could use more volume to support a breakout. UA - Profit taking today helping to relieve overbought momentum oscillators. Mid Cap Watch List: ATK - Up earlier to challenge 140 price resistance, but will need more volume to confirm a breakout at that level. KFY - Volume has accelerated some as it attempts a fresh closing breakout above 29.39. Looks strong. MELI - Has been struggling recently between 100.00 and 101.00. A break above that congestion would be bullish. For now, however, it's range bound trading between 95 and 100. 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