EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: ADTN, CSX, GS, INTC, JBHT, JNJ, JPM, YHOO Wednesday: ABT, BAC, EBAY, LVS, NTRS, SCHW, SNDK, STJ, URI, USB, YUM MARKET NOTE: It was a rough morning for equities, but as has been the case all year, buyers returned. Recently, support has been maintained at the 20 day EMA. That has been the case again today with volume fairly light. We could see more selling pressure, however, if the 20 day EMA support is lost, so please be careful. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: LL - Our only short candidate remaining and it's down again. LL has been a bottomless pit. Large Cap Watch List: CNP - Continues bouncing off price support and its 20 day EMA - bullish. FDX - Nice recovery after a gap down to again test the 20 day EMA. HSP - Are we finally going to see a MACD centerline reset and possible 50 day SMA test? The bulls have been a resilient bunch, fighting off the negative divergence for weeks now. JWN - June retail sales were weak and JWN lost its 20 day EMA support. Look for support close to 66.75. Mid Cap Watch List: GRPN - 6.79 is the primary short-term price resistance as GRPN consolidates near our Second Entry at 6.40. PAY - Weak today and once again testing price support near 35.00. WTW - Yesterday's close beneath 19.63 was ominous, especially with volume picking up. A close below 19.00 represents our Closing Stop. 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