EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: NAV, PVH, TOL Thursday: BEBE, CIEN, COO, FNSR, HOV, JOY, KFY, PAY MARKET NOTE: The NASDAQ is the relative laggard today as Apple (AAPL) struggles. Volume is HUGE on AAPL so we'll need to see if it can hold the rising 20 day EMA. If it does, the uptrend has a much better chance of continuing in the near-term. If bearish engulfing candles form on multiple indices/sectors/industries, then the pendulum could swing back in favor of the bears in the near-term. ADDITIONS TO WATCH LISTS: We added JACK to our Mid Cap Watch List on Tuesday and we'll be adding several more to our various Watch Lists over the next couple days. There are no additional Watch List stocks being added today, however. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List: CMG - Nice intraday gains, but the reversal suggests we'll remain in this sideways consolidation period a bit longer. FDX - Beautiful follow through of yesterday's surge off trendline support. CRM - The failed breakout attempt at 60 indicates the likelihood of another test of price support near 58.00. That could coincide with a rising 20 day EMA test as well. Mid Cap Watch List: JACK - Weak today as the ascending triangle consolidation remains in play. We need a further decline of perhaps 2% or so to trigger our Initial Entry of 59.00. 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