EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: None Wednesday: None Friday: None MARKET NOTE: As you can see, there aren't going to be many earnings reports for traders to look at. Instead, the technical conditions continue to be strong and that's been the primary driver behind higher prices of late. The Russell 2000 has been especially strong as historical tailwinds kicked in during December to generate a very significant breakout to an all-time high, with this small cap benchmark index closing above the March and July highs near 1210. Great action. I want to take this opportunity to thank each of you for supporting EarningsBeats.com in our first full year of operation. This will be our final update of 2014 - Happy New Year to all! 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: ADBE - Consolidating recent gains, but I look for a strong start to 2015 here. AMGN - Recent consolidation makes sense given long-term negative divergence. Note the daily MACD now back close to centerline support. Good technical behavior. BMY - Negative divergence also likely playing a role here in terms of consolidation. Daily MACD moving closer to centerline support. HSIC - Will likely need more volume to confirm next breakout, especially with weak divergence. ILMN - Lots of back and forth past couple months but technically still looks bullish to me. RAX - Been a great performer since being added in November. But the recent breakout on light volume with a long-term negative divergences supports the notion of taking profits. V - Another negative divergence. Obviously, there's a theme among some of the larger cap names. Mid Cap Watch List: INFN - Recent weakness providing decent reward to risk opportunity as rising 20 day EMA is just below current price at 14.60. MLNX - Showing huge gap lower on chart today, but price was quickly back to Monday's close and little volume has taken place - so I'd ignore the action. TASR - Remains strong as daily long-term negative divergence has effectively been eliminated. 25.00-25.50 will likely provide support for the bulls now on any selling. VDSI - Appears to be bullish inverse head & shoulders in process of forming. Small Cap Watch List: QLGC - Fairly strong volume to potentially support another breakout here. This one has been a tremendous performer since being added recently. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com