EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: AAL, ALTR, AMZN, CAT, CMCSA, CS, GM, JNPR, KLAC, LLY, LUV, MMM, MSFT, OXY, POT, RTN, SYNA, UA, VRSN, WYNN Friday: AMX, BMY, CL, F, PG, STT, UPS MARKET NOTE: Yesterday's rally attempt failed, perhaps in part due to the fact that defensive groups were leading the early action. That is never a huge vote of confidence. Today's rally is clearly different, however, with industrials pacing the advance and the more defensive areas lagging. We are now in Day 6 of higher highs and higher lows printing and until that changes, it's difficult to argue with the bulls. This rally is also continuing during THE worst historical week of the year on the S&P 500, dating back to 1950. For now, we tip our hats to the bulls and are thankful that we've remained on the long side in terms of our Watch List stocks. ADDITIONS TO WATCH LISTS: We are adding three stocks to our Watch Lists as follows: Large Cap Watch List: ILMN - $26.51 billion market cap, with 3 entries - current price (187.89), 179.55 and rising 20 day EMA, currently at 167.48. More details to follow on website tonight. Mid Cap Watch List: GRUB - $3.04 billion market cap, with 2 entries - current price (38.00) and 37.17. More details to follow on website tonight. MLNX - $2.02 billion market cap, with 3 entries - current price (45.00), 44.29 and rising 20 day EMA, currently at 43.25. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List: PLL - Making another breakout above 46.00 today, could use more volume. Mid Cap Watch List: JACK - Continues its strong relative performance, breaking out to another new high today. SNCR - Sitting almost squarely on its 46.49 breakout level. Volume is decent so a breakout would be bullish on today's close. VEEV - Bounced yesterday off 20 day EMA support. Small Cap Watch List: NX - Has exceeded our 19.35 price target. GREAT TRADE!!! We'll keep NX on our Watch List for possible re-entry down the road. If you've decided to hold, 19.35 now becomes price support with the next target just above 21.00. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com