EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: CTAS Tuesday: None MARKET NOTE: Back and forth whipsaw action continues, really with neither the bulls nor bears winning. I continue to give the overall nod to the bulls simply because it makes sense to do so during a bull market. Betting against the bull market has been a losing proposition for 5 1/2 years, which is why our Watch List currently consists of long positions only. Thus far, they're holding onto key support as buyers rush into these shares at just about every opportunity. 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 - Bouncing off 50 day SMA support, where it continues to find buyers and threatening to break to a 6 day high. CMG - The declining 20 day EMA remains the biggest short-term technical obstacle. PLL - Accumulation seems to be taking place between 82-83. CRM - Gapped below key support at 56.00, but has rallied strongly. Today's open of 55.56 could now be viewed as short-term closing support. Mid Cap Watch List: AMBA - Nearly touched 45.00 today on very strong volume. This one has been a MONSTER. JACK - Now up more than 5 bucks, or more than 8%, since cracking 62.00 resistance and breaking out of that bullish ascending triangle pattern. The target off this pattern is 72.00, as a reminder. SNCR - 45.30 represents breakout. At last check, SNCR was trading at 45.49. Strong volume into the close would be bullish. You might consider setting a closing stop at 45.30 now since SNCR has a long-term negative divergence in play. 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