EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: BIG Monday: Labor Day Holiday Tuesday: CONN MARKET NOTE: Yesterday, our major indices were a bit bearish. Today, we see more bullishness. But the key levels of resistance have not changed. So again as a reminder, here are the short-term resistance levels to watch. I've added the recent high close on the NASDAQ to the three other indices: Dow Jones: 17138 S&P 500: 2000 NASDAQ: 4574 Russell 2000: 1176 ADDITIONS TO WATCH LISTS: There are no additions today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: MTW - Volume has accelerated and MTW is currently above our Closing Stop of 29.00. The 50 day SMA and the top of gap resistance reside near 30.00 for those wishing to provide more cushion, but if MTW closes above 29.00, we will remove it from our Watch List. Large Cap Watch List: FDX - Clinging to trendline support near 147.50 and there's also solid price support near 145.00. Those would be the two best options for entry in the near-term. NTAP - We'll continue to wait for a pullback, but technically the 42.23 level could provide more sellers because that represents the top of gap resistance from February. CRM - Again touched our Initial Entry of 58.00 this morning before rising more than 3%. It's pulled back from its intraday high and currently resides in a 58.00-60.00 short-term trading range. 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