EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: None Tuesday: APOL, FNMA MARKET NOTE: Our major indices have turned higher - at least in the very near-term as historical bullishness could be playing a role here. The biggest test of resistance will likely occur on the NASDAQ in the 4220-4240 area where price resistance and both its 20 day EMA and 50 day SMA reside. If the NASDAQ can clear that zone on a closing basis, expect more technical dollars to support a push higher. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: SJM - Not doing much as it simply consolidates in a 95-98 trading range. Large Cap Watch List: COO - A Friday addition to our List, COO has moved back above its 20 day EMA, a positive development. Volume is light, however, suggesting we could see back and forth action. ROC - 75.50-76.00 will be the short-term resistance to watch. A close above that area, especially on increasing volume, would likely set the stage for another advance to test the recent highs near 82.00. UA - Long-term negative divergence and very near-term bearish volume trends having a negative impact on this one. VIPS - Nice gap higher after Friday's addition to our Watch List. A close today above the 20 day EMA would be its first in over a week. Mid Cap Watch List: ATK - Trying to clear 140 again, this time on light volume. I like the technical pattern here and expect higher prices in time. Watch the 20 day EMA for short-term support. GMT - Long-term negative divergence is issue 1 here and if 65.65 20 day EMA support is lost on a closing basis, we could be on to issue 2. It's been a great performer, but beware. YY - Another Friday addition. Up more than 2.5% today, but trendline and 20 day EMA resistance encouraged sellers to take over earlier today. A close above both those levels would be bullish. Small Cap Watch List: PLOW - Added on Friday and showing nice strength today, but one word of caution. PLOW is not heavily traded so there could be a bit more whipsaw action on this one. I am expecting, however, a return to the 18.50-18.60 level in time. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless Closing Stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com