EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: ABT, BAC, EBAY, LVS, NTRS, SCHW, SNDK, STJ, URI, USB, YUM Thursday: ADS, AMD, ATHN, BAX, BHI, BX, CE, COF, DHR, FITB, GOOG, IBM, MS, PM, SAP, SLB, STX, UNH MARKET NOTE: Intel (INTC) came through for the bulls with a better-than-expected earnings report and there was a partnership announced between IBM and Apple (AAPL). These two events have helped to spur more buying on the tech-heavy NASDAQ index. After more than a week of selling, the Dow Jones US Home Construction index ($DJUSHB) is rallying and that too is buoying stocks to fresh recent highs, especially on the Dow Jones where we're threatening to close at a new all-time high above 17100. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: No significant changes today. Large Cap Watch List: CNP - Been showing very nice support near 24.65 and it's bounced from there again. FDX - Breaking out to a fresh new high. Looks good, but there is a long-term negative divergence so.....if it fails to hold 153.61 on today's close, you could consider taking profits and look to re-enter on weakness. If it breaks out on the close, you could consider raising your closing stop to that level. FLEX - MACD has now almost reset - good news for the bulls that are waiting patiently for the next advance. HSP - Also closing in on MACD centerline support during the recent consolidation. JWN - Lost 20 day EMA support, but did so on light volume. Consolidation likely to continue within its trading range of 66.68-70.21. NVDA - Initial resistance at 19.72, nearly reached that level today. Mid Cap Watch List: GRPN - Recently couldn't clear price resistance at 6.79. Now the bulls' mettle being tested as recent closing support at 6.28 being approached. PAY - Bouncing nicely off 35.00 support again. Can it stick and begin another uptrend? WTW - Triple bottom breakdown beneath closing support at 19.63 bad news for bulls. I'd like to see a quick reversal and close back above 19.63. 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