EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: ACN, JBL, KBH, PAYX Thursday: MU, NKE MARKET NOTE: The good news for the bulls is that initial price support on the NASDAQ at 4500 held. Buyers came rushing in this morning at that level and the subsequent rally has cleared the falling 20 hour EMA, more short-term good news. It's a treacherous market, but the bulls are once again showing their resiliency, making it quite difficult to remain on the short side for very long. 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: BIDU - Up 2.5%, again holding the line at that 50 day SMA. CMG - Today's high challenged both the 20 day EMA and 50 day SMA. A close above both would be short-term bullish. Failure keeps us in a 650-665 trading range near-term. HSP - Break below 52.70 support on Tuesday was not encouraging. However, volume was lethargic on the move lower, potentially paving the way for a continuing recovery. PLL - Didn't quite reach our 82.00 second entry, but the bounce today shows traders are quick to return here. Mid Cap Watch List: AMBA - Did confirm its next breakout and did so on heavy volume - bullish. The daily MACD also shows very strong momentum. It's hard to jump in though given that the primary support - the 20 day EMA - resides 9% lower than current price. JACK - 63.63 is the level to watch as closing resistance now. A breakout above that level on confirming volume would likely begin the next leg higher. SNCR - 45.30 is the closing resistance level here. Could be considered a sell point until we see a breakout. Small Cap Watch List: No comments 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