EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: AMZN, GM, HOT, KLAC, LLY, MMM, NUE, SBUX, V, VZ, WM Friday: AON, CL, F, MCO, TYC, WHR MARKET NOTE: We saw a nice response to a few key earnings reports, like Facebook (FB) and Texas Instruments (TXN). But FB is well off its open and earlier high. F5 Networks (FFIV) is another that saw an initial favorable response to earnings, but has been highly volatile. The VXN is attempting to print a reversing (bullish engulfing) candle. If that occurs into today's close, I'd expect to see more short-term weakness. We'll see. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: SJM - Has been doing little, trading in a very narrow range for the past 1-2 weeks. Large Cap Watch List: UA - REMOVED FROM OUR WATCH LIST AS IT REPORTED EARNINGS. Down significantly today, but should find support close to 48.50 should it get there. VIPS - Could be forming a cup after its long uptrend. Still, there's decent resistance near 160 and that would not be a bad place to capture trading profits. Mid Cap Watch List: GMT - Long-term negative divergence is likely holding this one back. Daily MACD has been drifting back towards centerline support and will be there soon. KFY - Couldn't negotiate resistance at its recent price high. Long-term negative divergence could be the culprit. Small Cap Watch List: PLOW - Pushed through 17.60 on Wednesday's close, but could definitely use more volume to attract more technical buyers. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless stop losses are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com