EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: None Monday: None MARKET NOTE: The U.S. equity market will be closing today at 1pm EST. Equity prices are mostly higher in this abbreviated session with the big news being the HUGE drop in crude oil prices ($WTIC). That has sent the XLE (Energy ETF) down more than 6% on the session as energy-related companies are falling almost across the board. Consumer names and defensive-related sectors are faring best today, especially broadline retailers ($DJUSRB) which are rising in hopes that consumers will be willing to spend all the discretionary dollars they're saving from lower gas prices at the pump on retail products. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. We will likely be adding a few names to our lists early next week. 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 - Struggling to move higher with a long-term negative divergence in play. BMY - Ditto AMGN. Mid Cap Watch List: CRS - Down nearly 3% today as it tests its rising 20 day EMA. IRBT - Broke out above 36.36 price resistance on Tuesday, lost that level slightly on Wednesday and today has regained it once again. MLNX - Challening the upper downtrend line in its symmetrical triangle along with both its key moving averages - the 20 day EMA and 50 day SMA. A break above all of these to the upside, especially on increasing volume, would be bullish. TASR - Broke out above 20.90 resistance on heavy volume Wednesday. It pulled back earlier today to 20.93, nearly testing that new price support before rallying over the past couple hours. Bullish 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