EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: ADSK, BBY, BKE, DLTR, GME, GPS, INTU, MRVL, PLCE, ROST, SPLK Friday: ANN, FL, PBR MARKET NOTE: Solid economic reports have lifted the U.S. stock market after a fairly rough opening. Home construction stocks are benefiting from a better than expected existing home sales report from October and usually home construction bullishness carries over to the broader market. It's no exception today. 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: AMGN - Touching price resistance, could use more volume to confirm another breakout. ILMN - Was down more than 4 bucks earlier, but that loss has been cut in half after nearing 20 day EMA support. PLL - Near its highest level since being added to our Watch List. Volume is fairly light today and there's a long-term negative divergence in play. WE ARE REMOVING PLL FROM OUR WATCH LIST AS IT REPORTS EARNINGS NEXT WEEK. RAX - Needs more volume but it's attempting to break out above the recent highs near 44.00. Mid Cap Watch List: AMBA - Again touched recent price support near 47.50 before bouncing nicely. CRS - Currently printing a bullish engulfing candle at 20 day EMA support. INFN - Trying to print a bullish engulfing candle at 20 day EMA support. MLNX - Volume slowing near recent price support of approximately 41.25. SNCR - Not much of a bounce today after yesterday's big selling, but it has thus far held onto price support in the 41.50-42.00 zone. TASR - Solid volume and a potential long-term breakout near 20.50. Bullish action. Buying at least a partial position on this breakout not a bad strategy. Small Cap Watch List: No comments at this time. DELETIONS FROM OUR WATCH LISTS: PLL is being removed as earnings are approaching. There are no other deletions today unless closing stops are triggered. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com