EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: AAPL, BTU, CMG, GPC, HAL, HAS, IBM, ILMN, TXN Tuesday: BRCM, DFS, HOG, ISRG, ITW, KMB, KO, LMT, MCD, NBR, TRV, UTX, VMW, VZ, YHOO MARKET NOTE: Our major indices are performing quite well today, especially considering the poor earnings results out of IBM. Technically, we have further to run short-term to price resistance and falling 20 day EMAs across our major indices. However, historical headwinds do kick in at today's close where we will begin the worst one week period historically on the S&P 500, dating back to 1950. Caution is advised. 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 - Struggling in the middle of its two key moving averages - the 20 day EMA and 50 day SMA. CMG - REMOVED FROM OUR WATCH LIST ON FRIDAY BECAUSE EARNINGS ARE DUE OUT TODAY. COST - Rebounding nicely off support as expect. The 129 level would be a decent opportunity to take quick short-term profits. NKE - Performing well today with overhead short-term resistance approaching just above 90.00. PLL - Back above our entry levels, a good sign. SPR - The 20 day EMA proving difficult for the bulls - more volume needed. Mid Cap Watch List: DSW - Challenging its 50 day SMA as its daily MACD resets near the zero line. VEEV - Certainly looks like it may want higher prices, might consider putting an intraday stop in beneath its prior day low and continuing to trade like this until it takes you out. Small Cap Watch List: NX - Solid action again today with our target of 19.35 not too far away. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com