EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: CSX, KBH Wednesday: JPM, WFC MARKET NOTE: Our major indices are higher today with the NASDAQ leading the charge, up 1.5%. But the key will be to see if there is staying power into the close. We saw Alcoa kick off the earnings season yesterday, getting an initial boost after numbers were released. However, the stock is now down over 1.5% on very heavy volume with the stock going against the grain of the market. Key today will be a close above 2047 on the S&P. Better yet, a move back above last week's high of 2064 would be very bullish. 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 as earnings season heats up 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 - At one point today ADBE was back above both its 20 and 50 day moving averages. That is not the case at the moment but a close back above 72.27 would be a good start towards technical recovery. BMY - Continuing its move higher today, up almost 2% and continues to out perform the market. ILMN - Consolidating above its recent breakout at 195.00. V - Nice move higher today, up 2% as it climbs back above its 20 day moving average. Mid Cap Watch List: SNCR - Solid move higher today, up over 2.5% as it moves back over its 20 day moving average. CMPR - Up 2% as it climbs back above its 20 day moving average MLNX - New 52 week high, up over 2%. AMBA - New 52 week high, up almost 2%. Small Cap Watch List: QLGC - Strong move higher today, up over 5% as it hits a new 52 week high and has now exceeded our initial target of $13. Great trade! DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Also, we will revisit QLGC tomorrow and leave it on for now though it has hit our target so don't hesitate to put profits in the pocket! Happy trading! John Hopkins for Tom Bowley Chief Equity Strategist EarningsBeats.com