EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: CSCO, CSIQ, DDS, DE, IAG, M, NTAP, NTES, VIPS Thursday: A, AAP, ADSK, AMAT, FNMA, FWLT, JCP, JWN, KSS, PRGO, SINA, WMT Friday: EL MARKET NOTE: One day after it appeared the market was ready to resume its decline, all of our major indices are posting healthy gains. It's how the market works. It's humbling to try to predict the market day to day. There do remain MAJOR warning signs and obstacles in the bulls' path, however, so continue to be very cautious. I still believe we'll see new recent lows before we see new recent highs. Semiconductors are one group to watch as the SOX is testing its 20 day EMA from underneath. Failure would be expected and if they do fail, we could see another test of price support near 600. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today, but I will be looking to add more stocks over the next week. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: MTW - up fractionally on very light volume, following in the overall market's footsteps. PVA - remains in a bear flag, biding its time before another push lower - in my opinion. Large Cap Watch List: FDX - up nicely as transports ($TRAN) perform well today. The TRAN is testing its moving averages from underneath and could certainly roll over from here. While FDX is not at any major resistance level, peeling off small profits as the TRAN hits resistance is a very prudent and conservative strategy. JWN - reports its earnings on Thursday, so WE ARE REMOVING JWN FROM OUR WATCH LIST. Mid Cap Watch List: There are no Mid Cap Watch List stocks at this time. Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: JWN is being removed as they report their latest quarterly results on Thursday. There are no additional deletions unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com