EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: AAPL, AMX, BRCM, BTU, CMCSA, CS, DD, DFS, EA, HOG, ISRG, JNPR, KMB, KO, LMT, LXK, MCD, MJN, MO, MSFT, NBR, RF, STT, TRV, UTX, VMW, VZ, XLNX Wednesday: BA, BIIB, CTXS, DAL, DOW, EMC, FB, FCX, FFIV, GD, GILD, ILMN, NOC, NSC, PEP, QCOM, T, TRIP, TSCO, WFT, WHR MARKET NOTE: Our major indices are higher with the biggest technical development being whether the S&P 500 can close at yet another all-time closing high. The level to watch is 1985.44. The other technical resistance area of interest would be the key moving averages on the Russell 2000. After falling apart recently on a relative performance basis, the Russell 2000 is now climbing. But can it reclaim both its 20 day EMA and 50 day SMA? That'll be another test to watch. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. I am deliberately keeping these Watch Lists quite small due to the nature of the market environment, which I remain quite skeptical of. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: No significant technical developments today. Large Cap Watch List: CNP - Watch for resistance at 25.58. FLEX - Having a very strong day, not too surprising given the fact that its negative divergence is now gone with the recent MACD centerline reset. 11.35 is key closing resistance where profits can be taken. HSP - Gap up this morning follows recent 50 day SMA test. NVDA - Performing well, but still within its consolidation zone. 18.31-19.72 represents the short-term trading range. Mid Cap Watch List: GRPN - Needs more volume and a close above 6.79. PAY - Bouncing off 50 day SMA and price support. Looks solid as resistance at 37.36 moves closer. WTW - Recent rally took a much-needed turn for the better as the 20 day EMA has been cleared intraday. A close above would potentially add some fuel to the bullish fire. 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