EB Watch List Update Report

Dear Members, Note: Sorry I'm so late with today's report. I've been traveling all day. KEY EARNINGS REPORTS: Friday: ANN, MBT, RY Monday: QIHU MARKET NOTE: The NASDAQ is leading today's action and Thursday saw the banks ($DJUSBK) climb back above key price resistance near 304-305. There are still plenty of warning signs that suggest the market could be approaching a top so please just trade cautiously. It's difficult to kill a bull market, as we're currently witnessing. But the signs of a potential significant top are there. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: MTW - Down slightly as overhead 20 day EMA remains difficult for the bulls to negotiate. PVA - Yesterday's late reversal and an increase in volume to accompany today's strength is not good action. We'll cover on a close above 14.00. If you decide to hold, the next key level of resistance is the top of gap resistance at 14.66. The 50 day SMA is currently at 14.71, also offering some overhead resistance. Large Cap Watch List: FDX - Down fractionally and testing its 20 day EMA. 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: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com