EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: ABX, AEM, AKAM, AUY, BCS, CNW, CTRP, FMC, GRMN, GT, HES, HSP, HUM, HUN, IACI, KRFT, LL, LRCX, MET, MUR, RRD, S, TASR, TRLA, UNM, VLO, WDC, WFM, WLL, WLP, WMB, WTW Thursday: ADP, APA, BUD, BZH, CCJ, CI, CL, CME, COP, DTV, EXC, EXPE, GPRO, ITT, K, LM, LNKD, MA, MCHP, MCK, OXY, SBH, SGEN, SNY, SYNA, TMUS, TSLA, TWC, XOM MARKET NOTE: The stock market is trying to reconcile the miss on the ADP employment report for July with the strong Q2 GDP report and that's resulted in a bifurcated market. It is good to see the more aggressive NASDAQ and Russell 2000 leading today, but the Russell 2000's relative performance vs. the S&P 500 just recently set a new low for 2014. Therefore, this relative strength today is a nice start, but far from what's ultimately needed. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. However, due to upcoming earnings reports, our Watch Lists are dwindling. I'll be adding several more Watch List stocks over the next few trading sessions based on the combination of earnings results and technical developments. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no stocks on our Short Watch List at this time. Large Cap Watch List: CNP - Very weak today, but the weakness is on light volume and CNP is testing price support near 24.65. Also, the rising 50 day SMA at 24.58 should provide support as well. FDX - Impacted by not-so-good results from UPS recently. Technically, however, the 145.50-147.50 area is a solid reward to risk entry range. JWN - Bucking the trend today and now within 1% or so of price resistance at 70.21. I'd be a seller at that level until JWN can close above on increasing volume. NVDA - The bounce continues off 17.50 price support. Mid Cap Watch List: PAY - Also bouncing off key 34.00 price support. Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: HSP and WTW were removed on Tuesday because of earnings today. Previous EB.com Watch List stock SBH will be reporting tomorrow FYI and SGEN is officially removed because of its earnings tomorrow as well. There are no other deletions unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com