EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: MU Wednesday: MON MARKET NOTE: The selling continues and there's been significant rotation away from aggressive areas of the market like financials and industrials as more money moves into conservative areas like utilities and treasuries. This behavior bodes poorly for equities in the near-term as we await a reversing candle of some type to encourage buyers of aggressive stocks back into the 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: ADBE - Quickly approaching our 3rd and final entry at 70.00. Our closing stop is at 67.50. AMGN - Currently trading beneath recent price support at 155.00. Our second entry is down close to price support at 145.00. BMY - Testing its 50 day SMA as its MACD approaches centerline support. ILMN - Reversing lower after moving within a couple bucks of key resistance at 195.00 earlier today. V - Attempting to resolve its long-term negative divergence. Our entry points are much lower, but the 252.00-253.00 area could be used for entry with a very tight stop beneath 250.00. Mid Cap Watch List: INFN - Heavy volume accompanying today's short-term breakdown. The best entry level on this stock is at breakaway gap support near 12.25. MLNX - One of the few stocks managing to trade higher today. ODP - Test of rising 20 day EMA could represent entry or re-entry. TASR - Hasn't fallen much despite the overall market conditions, but 25.00 support would represent nice entry for those that don't mind the potential for heavy volatility. VDSI - Trying to reverse today with closing price support residing at 25.34. CMPR - Both 50 day SMA and price support in the 68.00-69.00 area. Small Cap Watch List: QLGC - Weak today but rising 20 day EMA should offer up support. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com