EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: AEO, DDS, EV, LOW, NTAP, PETM, SINA, SNPS, TGT, TIF, WSM Thursday: ARO, BBY, BKE, BRCD, DLTR, GME, GPS, HPQ, MRVL, PLCE, ROST, RY, SHLD, TD MARKET NOTE: Traders are awaiting the minutes from the latest FOMC meeting. In the meantime, there's been very little economic news to trade off of. And the earnings news that's been coming out of late has centered mostly around retailers - a very weak technical area of the market. So I guess the good news is that our major indices have not broken down. The bad news is that the Russell 2000 keeps falling back to test neckline support around 1090. Loss of that level would certainly show more technical signs of weakness ahead. ADDITIONS TO WATCH LISTS: There are no additions today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: ARG - Fell late on Tuesday and the weakness continues today. Recent support close to 105 failed yesterday and that's likely encouraging more short-term selling. LL - Despite a long-term positive divergence, LL has shown very little strength and is struggling to hold onto recent price support. Large Cap Watch List: CNP - Seems to threaten its Closing Stop of 23.35 daily, but thus far has successfully defended this level. Mid Cap Watch List: ALJ - Trying to forge out the "D" bottom in an ABCDE bullish ascending triangle pattern. WTW - Showing considerable weakness, but on light volume. We have a lot of room on this one down to our Closing Stop at 19.00 and that's because we see tremendous upside technically. 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