EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: ALL, ATVI, BCS, CBOE, DIS, DISCA, DTV, EA, FEYE, FMC, FSLR, GDP, GRPN, LBTYA, MCHP, MOS, MRO, OKE, SLF, TRIP, UBS, VMC, WCG, WFM Wednesday: AOL, AYR, BID, BUD, CF, CHK, CTRP, CTSH, DUK, DVN, GMCR, HUM, MDR, NLY, POM, PRU, RIG, SCTY, TSLA, UNM, Z MARKET NOTE: The two areas of the market that really have my attention right now are (1) the 10 year treasury yield ($TNX), which is hovering just above key intermediate-term support in the 2.57%-2.58% level and (2) the Dow Jones US Banking Index, which currently is trading beneath three month support at 295. Breakdowns on both of these will make it very difficult for the bulls to sustain the recent advance. There are plenty of warning signs right now that suggest we could be in a topping phase, so please be careful. ADDITIONS TO WATCH LISTS: There are no additions today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: ARG - Moving higher to test its 20 day EMA and 50 day SMA from underneath. FLR - Nearly reached our Initial Short Entry of 75.45, falling just 7 pennies shy earlier. LL - Positive divergence has not kicked in. If it does, the 92.50 and 95.00 levels appear to be nice short entry points. Large Cap Watch List: CNP - Reclaimed its 20 day EMA and trying to hold that moving average now. FLEX - Was within pennies earlier today of its major price resistance level near 9.60. VIPS - Again backing off of short-term price resistance at 160.00. Mid Cap Watch List: KFY - Selling carried it to within two pennies of our 28.00 Entry. Volume trends still look quite good here. Small Cap Watch List: IRDM - Struggling on the heels of news of a secondary public offering. I'm still fine with it technically as long as key price support holds. Perhaps the biggest problem with IRDM is that it's a small cap stock and the Russell 2000 has been out of favor for weeks. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com