EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: AZZ, KBH Monday: None MARKET NOTE: Market action remains quite boring with traders opting mostly for safety. Treasuries were on the rise early today, continuing their recent winning streak that has sent yields tumbling. Utilities are leading on the equity side. It's hard to feel great about this kind of action, but it's also difficult to kill a boring bull market. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: SBH - Can't seem to close above its 20 day EMA to trigger more technical buying interest. Until that happens, it's not likely to unwind that long-term positive divergence. Large Cap Watch List: CNP - Very nice action on CNP and with very strong momentum to boot. FDX - Volume since earnings indicates that FDX is under heavy accumulation, a very good sign for further price appreciation. HSP - Weakening. Loss of 20 day EMA support would be problematic because of that long-term negative divergence. Careful here. JWN - Reversing candle printed on Thursday and JWN is rallying off of it thus far. Mid Cap Watch List: GRPN - Consolidating recent gains and doing so on lesser volume. WTW - Opened beneath 20.71 price support as its recent downtrend continues. Patience required here as recent lows in the 19.50 area could be next. Small Cap Watch List: MTRX - Like today's candlestick (hammer) so far, although more volume would be more bullish. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com