EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: C, INFY, JBHT, MBT Tuesday: CSX, INTC, JNJ, KO, SCHW, YHOO MARKET NOTE: We have to remain skeptical of the short-term advance today because volume trends are quite bearish in the near-term and key short-term price support was lost last week. Initially, the S&P 500 is likely to encounter price resistance from 1840-1850, then more resistance at its falling 20 day EMA, currently at 1853. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: No comments at this time. Large Cap Watch List: FFIV - Up quite nicely earlier, but it could be an options-related advance. TEL - Continues to outperform on a relative basis, and I'm fine with it as long as the uptrend remains intact. The 50 day SMA is the first critical support area to watch. Mid Cap Watch List: GMT - Seems to be having difficulty negotiating the declining 20 day EMA. Given the long-term negative divergence, that's not too surprising. KFY - Last two days' intraday lows have approached our Second Entry at 27.15 gap support, but we haven't quite touched it yet. Small Cap Watch List: PLOW - After failing once again to clear 17.60 price resistance, PLOW is declining on light volume back below 17.00. Price support is closer to 16.50. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless Closing Stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com