EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: AON, BUD, CBOE, CLX, CVX, LM, NWL, PBR, RBS, SPR, TDS, WY, XOM Monday: AIG, HLF, L, MRO, S, SOHU, SYY, VNO MARKET NOTE: Solid economic news, along with an increased level of bond buying from the Bank of Japan, has the stock market in a very good mood as October come to an end. Both the Dow Jones and S&P 500 are threatening to close at all-time highs today, very remarkable given the depths of the selling in October on heavy volume. If nothing else, it underscores how difficult it is to argue with a bull market. 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: ILMN - Set another fresh high earlier in the session before reversing. Still looks solid technically. NKE - Long-term negative divergence here remains, as does the continuing rally. Mid Cap Watch List: AMBA - 45.50 is major price resistance. Today's earlier high of 45.25 is not a bad level to take profits and await either a breakout to re-enter or a selloff down to the rising 20 day EMA. DSW - Underperforming of late, but mostly on lighter than normal volume. Key price support resides at 29.47, then 28.48. GRUB - Hasn't been very good behavior off the recent positive earnings surprise, but thus far has held our closing stop of 35.25. Today's intraday low tested this level despite a strong market. Needs a rebound sooner rather than later. MLNX - Held 50 day SMA support and today printed a higher high for the first time in over a week. Looks like it found a bottom, but watch 42.00 level as key support near-term. VEEV - Had been holding rising 20 day EMA, which was bullish. Seeing confirmation today with a gap higher and expanding volume. Bullish. Small Cap Watch List: NX - Careful if black candle holds into the close off this uptrend. But even that would likely be just a short-term topping candle. Excellent performer. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are triggered. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com