EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: AAL, ALTR, AMZN, BIDU, BMY, CAT, CELG, DECK, DHI, ECA, F, FLEX, GM, KLAC, LLY, LUV, MMM, MTD, NOK, PHM, POT, RTN, SBUX, UA, UNP, V, VRSN Friday: AON, COV, LEA, MCO, SLAB, TYC, VOD MARKET NOTE: Apple (AAPL) and Facebook (FB) have both come through for the bulls with their latest quarterly earnings, especially FB which literally hit one out of the park last night with its EPS reported at .42 vs. .32 consensus estimates. FB is being rewarded to the tune of 5 bucks, or nearly 7% today. This has enabled the NASDAQ to approach its 14 year closing high of 4485. A close above it would be bullish. The S&P 500 broke out to an all-time high close on Wednesday as it cleared 1985. There is a negative divergence on the S&P 500, however, so the bulls would like to hold that 1985 area as support on any bout of selling. 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 technical developments today. Large Cap Watch List: CNP - Riding higher off its 20 day EMA test. This 20 day EMA, then price support near 24.65 are the two downside levels to watch. FDX - Has a long-term negative divergence in play as it sideways consolidates for now. Not bad action. HSP - Continuing to strengthen off recent 50 day SMA and MACD centerline tests. JWN - Nice day today, threatening to push towards 70.21 resistance again. Mid Cap Watch List: GRPN - Trading slightly beneath our Closing Stop of 6.20. Volume is light and, as a reminder, gap support resides at 6.00 if you choose to give this one a bit more downside room. PAY - Bounced off its rising 20 day EMA support today, where it's found nice support for the past couple months. WTW - Hesitating at its 20 day EMA. The bulls would like to see this moving average cleared, along with the 50 day SMA, on increasing volume. 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