EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: APOL, BBBY, FDO, GPN, STZ Friday: AYI, AZZ, INFY MARKET NOTE: Chicago Fed President Charles Evans said overnight that raising rates too soon would be a "catastrophe" and that comment, among others, sent futures soaring. The good news is that today's positive open triggered technical buy signals as key price and moving average resistance was cleared at the opening bell. Traders have been buying ever since, with the majority of the buying focused on aggressive areas of the market. There's also been a bit of treasury selling, helping to fuel today's equity advance. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists today. There will be many changes in our Watch Lists over the next couple weeks so stay tuned. 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 - The recent drop was steeper than I expected, but we did have a final entry at 70.00 in the event the bottom of gap support was tested. Since that test, ADBE has responded quite bullishly and looks better. AMGN - As expected, AMGN struggled on initial attempt to clear 20 day EMA resistance. HSIC - Breaking out again - nice action. ILMN - Cleared resistance on today's open and volume is solid with a strengthening MACD. ILMN appears to be heading higher. V - Very nice bounce off the near 50 day SMA test from just two days ago. Mid Cap Watch List: INFN - Nice bounce last two days and now INFN is challening a major short-term gap resistance level at 13.94. Can it get through on this first attempt? MLNX - Resuming its recent uptrend with its biggest price resistance at 46.75 not too far ahead. A breakout there with big volume would be EXTREMELY bullish. ODP - Bouncing nicely as expected off 20 day EMA support. TASR - Volume has begun to slow somewhat, but technical price action still bullish. CMPR - Beautiful recovery off recent selling down to price support and 50 day SMA support near 69.00. Small Cap Watch List: QLGC - Looks great with rising 20 day EMA probably best entry level short-term. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com