EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: ADP, ADSK, AMAT, ATK, JCP, JWN, PBH, SI, WMT Friday: None MARKET NOTE: The flight to safety continues as treasury prices soar and defensive areas of the stock market lead on a relative basis. Perhaps the biggest technical story of the day centers around whether the Russell 2000 can hold onto neckline support near 1090. Failure to do so would arm the bears with additional reasons to short. ADDITIONS TO WATCH LISTS: There are no additions today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: FLR - After nearly triggering our Second Short Entry at 78.00 just two days ago, FLR has quickly fallen, nearly reaching our target of 73.50. The intraday low today was 73.67. LL - I would be out of any short position. LL is potentially printing a reversing hammer candlestick today with a long-term positive divergence in play. It's also at recent price support. Large Cap Watch List: FLEX - The problem with FLEX is that it continues to fail to hold its breakout above 9.60. It needs more volume to confirm such a breakout. Mid Cap Watch List: ALJ - Has triggered our Final Entry at 14.75 as it tests the bottom uptrend line of a bullish ascending triangle pattern. This is the best reward to risk entry point as our Closing Stop is at 14.50, not far from the current price. KFY - Attempting to print a bullish hammer on its key moving averages. After hitting resistance near 30.50, re-entry possibilities exist from 29.00 down to 28.00, possibly even 27.15 (worst case scenario). WTW - Could be a bottoming hammer on the 20 day EMA. Nice long tail to the downside with increasing volume suggests this isn't a bad spot for potential entry. Small Cap Watch List: There are no Small Cap Watch List stocks at this 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