EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: FAST, WFC Monday: C MARKET NOTE: It's a mixed bag today, although it's clear that the NASDAQ (especially the NASDAQ 100) is leading today's advance. Technically, perhaps the best news is that the NASDAQ has broken above the falling 20 hour EMA on its 60 minute chart, suggesting we could see more technical strength ahead. Confirmation would include the other major indices doing the same later today or on Monday. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: PRGO - Printing a series of lower lows on its daily chart. That's good news for the bears - at least until it changes. Large Cap Watch List: FDX - Notice the volume is dwindling as FDX drifts lower. HSP - Continues to hold 50.75 short-term price support, but be careful if this level gives way because of that UGLY long-term negative divergence. JWN - For anyone that sold at price resistance of 70.21, at least partial re-entry today on its 20 day EMA makes sense. Mid Cap Watch List: GRPN - Up slightly, but the next key breakout will be a close over 6.79. Heavy volume would add to the bullishness of that move. PAY - Latest addition to Watch List consolidating at initial price support. Small Cap Watch List: MTRX - WE HAVE REMOVED MTRX FROM OUR WATCH LIST AS IT VIOLATED ITS PRICE SUPPORT. I still like the company technically, but next support is down close to 28.00 and I'm not comfortable giving it that much room. If you're willing to, feel free. Just be vigilant about watching it closely. DELETIONS FROM OUR WATCH LISTS: MTRX was removed, but there are no other deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com