EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: None Tuesday: WAG MARKET NOTE: It's more of a business as usual market today. Strength has returned to areas like technology and industrials, while groups that benefited from options expiration like energy, are back at the bottom of the relative strength leaderboard. I expect this rotation is here to stay, so I'd focus on areas of the market that have worked throughout the 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: AMGN - Suffering from biotech fallout today, but could find support at its 20 day EMA short-term. If not, look to 157 price support area. V - Hanging in right side of cup. Going to need big volume to confirm next breakout, however, because of long-term negative divergence still in play. Mid Cap Watch List: TASR - Heavy volume accompanying today's solid breakout. Great story. Great volume. Great trade thus far. VDSI - Poor finish on Friday, but does still have a series of higher highs and higher lows for the bulls to work with. Nice bounce off recent 50 day SMA test. Small Cap Watch List: QLGC - Pulling back from our recent Target Price hit of 13.00. A test of the rising 20 day EMA would be reason for at least partial re-entry. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com