EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: CBS, CHK, CNQR, CSC, DUK, ING, LAMR, LBTYA, MDR, NWS, PRU, QCOM, SLF, SSYS, SUN, SYMC, TM, TSLA, TWX, WFM, Z Thursday: AAP, AOL, APA, BEBE, DIS, DTV, HSP, IGT, MNST, MTD, NVDA, PRGO, RIG, TAP, WEN MARKET NOTE: The ADP employment report was out this morning and jobs matched estimates. The biggie, however, is due out on Friday with the government's nonfarm payrolls report. It comes at an interesting time because we move from an historically bullish period to one that's either neutral or bearish, depending upon which index we're talking about. Also, last Friday's Bank of Japan QE move created a big gap higher in the U.S. indices. Since that time, we've traded sideways. So please be aware that a gap down on Friday could leave the recent days action on an "island", marking perhaps a short-term island cluster reversal and near-term profit taking. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. We will, however, be adding several stocks later this week so be watching for that. 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 - Back below 190, but this presents opportunity especially if the weakness continues down to the rising 20 day EMA. Mid Cap Watch List: AMBA - Could be entered from the current price down to the rising 20 day EMA after its recent MACD centerline test. GRUB - Volume accelerated yesterday but no key level of price resistance or price support was cleared. MLNX - Flat today, but so far is holding its rising 20 day EMA on pullbacks - nice action. Small Cap Watch List: No comments at this time. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are triggered. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com