EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: None Tuesday: BMO, OVTI MARKET NOTE: The stock market is giving back some of its recent gains as manufacturing data from Asia and Europe came in below expectations and that sent U.S. futures lower. In addition, Apple (AAPL) is having one of its worst trading sessions in weeks and that's carrying the NASDAQ lower. Small caps, or the Russell 2000, are the most vulnerable to near-term selling if recent price support in the mid-1150s does not hold into the close. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. We will likely be adding a few names to our lists tomorrow with an emphasis on small and mid cap companies. 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, BMY, COST and V - All have a long-term negative divergence in play - that's the primary issue with entering or holding. RAX - Buyers have emerged after earlier selling - the uptrend continues. Mid Cap Watch List: CRS - Volume is fairly light today, but the price and moving average support breakdown could lead to further short-term weakness. A reversal and close at or above 50.00 would be more bullish, while failure to do so likely will lead to another test of price support near 47.50. INFN - Stubbornly hanging onto 20 day EMA support. IRBT - Would have preferred to see price support hold recently at 36.36, but as long as the rising 20 day EMA holds, I'm fine with the action. Volume being light also helps. ODP - Triggering initial entry on the 20 day EMA test today. SNCR - Down 1.5% and approaching recent price support. A heavy volume breakdown would be bearish so maintain a closing stop near 41.50. TASR - Volume accelerating again today as TASR tries to close at a fresh all-time high. 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