EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: ULTA, UNFI Wednesday: None MARKET NOTE: Our major indices are flat today, not bad action given the relentless push higher in recent days. This should be considered just normal profit taking until the rising 20 day EMA is lost on a closing basis. Currently, we're nowhere near that moving average on any of our key indices or sectors. ADDITIONS TO WATCH LISTS: There are no additions today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: ARG - Trading just above our Closing Stop, but doing so on very light volume - half its normal daily volume. If you want to keep your losses small, honor this stop. Otherwise, watch it carefully in the coming days. PRGO - Down closer to 139.00 after testing initial resistance (and our Initial Short Entry) at 140.00 over the past couple trading sessions. TRMB - Closed above our Closing Stop on Monday with increasing volume so it has been REMOVED FROM OUR WATCH LIST. Large Cap Watch List: FLEX - The strength here continues. HSP - Up another 2%. Can't determine if the negative divergence has disappeared because the StockCharts' data feed has been down all day. Still, the price action here has been extremely bullish. Mid Cap Watch List: ALJ - Losing price support at 14.00. If it closes below, we will REMOVE IT FROM OUR WATCH LIST. WTW - The recent recovery continues as technicals strengthen. Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: TRMB has been removed from our Watch List and ALJ will also be removed unless it recovers in the final 20 minutes of trading today. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com