EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: CONN, KKD Tuesday: AMBA, DG MARKET NOTE: The action in our major indices today represents the resiliency we've seen from the bulls for much of 2014. There are lots of reasons for the market to top, yet the S&P 500 printed a fresh all-time high this morning. We're not exactly flying higher, but we're not selling off either. Another big jobs report comes out on Friday and the reaction in both the stock and bond markets could have a very significant impact on our next directional move in both markets. ADDITIONS TO WATCH LISTS: There are no additions today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: ARG - Has moved above its short-term resistance level of 107.00, but still has room to go before triggering our Final Short Entry at 109.00. FLR - Is trading at a recent high near 75.50, not a bad level for short entry, if interested. 76.50 could be another entry point with a closing stop perhaps near 77.00. Large Cap Watch List: FLEX - Trying to close at a fresh new high today. Accumulation here is apparent. Support is close to 9.65 with our Target Price being 10.50, only a couple percent away at this point. HSP - Remains strong, but the long-term negative divergence is still there and it's not improving. Mid Cap Watch List: ALJ - Failed in the near-term at 20 day EMA resistance and is drifting lower today. Still appears to be in a very bullish ascending triangle continuation pattern. WTW - Down roughly 5% from our average entry prices as it continues to drift lower on light volume. Next major support is the bottom of gap support at 19.80. 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