EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: FDX, GIS, LEN, PIR, UNFI Thursday: CAG, CTAS, ORCL, RAD, RHAT MARKET NOTE: Well, the big story today is what will the Fed say at 2pm this afternoon and how will the market react to it? We've been consolidating for several weeks now so we're awaiting news that will help us break above or below key resistance/support. Until that happens, expect more of the same - sector rotation. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. 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 - Triggered initial entry and is currently trading just beneath support at 650.00. HSP - After consolidating for several days near gap and price support, HSP could be starting its next uptrend. Will need more volume as it approaches resistance near 56.00. For now, volume is not a concern. Mid Cap Watch List: AMBA - At today's intraday high, was up 12-13% from Tuesday's open - a solid move higher. Keep in mind this one is very volatile so don't be afraid to capture profits when given an opportunity. DSW - Continues to rise nicely off its 20 day EMA. JACK - Showing strength off its initial test of support back where the ascending triangle breakout occurred near 62.00. SNCR - Triggered our initial entry point at 42.00 on earlier weakness. SNCR has already rallied 4% off that entry level. Small Cap Watch List: NX - Getting a huge lift all fairly light volume on the heels of bullish news in housing this morning. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com