EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: None Wednesday: AYI, AZZ MARKET NOTE: Economic reports out today were horrific, yet the stock market continues to muddle along. While the 10 year treasury yield ($TNX) has fallen a bit, as you might expect, the S&P 500 held onto gains most of the morning. That has changed in the past hour or so as sellers have once again imposed their will. Key price support is 1090 on the Russell 2000. That represents support in a bullish sideways consolidation pattern that dates back to the beginning of 2014. Short-term price support on the NASDAQ of 4465 is another level to watch. ADDITIONS TO WATCH LISTS: We are adding Nike (NKE) to our Large Cap Watch List. NKE is a $77.6 billion consumer discretionary company. We're holding off initial entry for either a rising 20 day EMA test or the top of gap support at 87.98. More details to follow on the website later this evening. 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 - Could use more volume, but it's on the verge of closing above its 20 day EMA for the first time in more than three weeks. PLL - Trading quite strongly on a relative basis, which is the whole idea behind EB.com. Mid Cap Watch List: AMBA - 3 bucks off its earlier high and on incredibly strong volume - we could be seeing a near-term top barring a late day recovery. JACK - Significantly outperforming the market - another great day of action for JACK. SNCR - Gapped above 45.30 resistance at today's open and it's continued to push higher with heavy volume. Bullish action indeed, but given the long-term negative divergence, consider keeping a closing stop in play at 45.30. Small Cap Watch List: NX - Not exactly flying, but performing quite well relative to the Dow Jones U.S. Home Construction index. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com