EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Wednesday: BA, BIIB, CMPR, CTXS, EMC, FB, GD, HES, IP, LVS, MLNX, QCOM, SLG, TSCO Thursday: ABT, AMZN, BABA, BRCM, BX, CAH, CB, CELG, CL, COH, COP, DB, DECK, DOW, EMC, F, GOOGL, HAR, HOG, HSY, MCHP, MJN, NOC, NOK, OXY, PHM, QLGC, RCL, RTN, SYNA, TWC, V, VLO, WYNN MARKET NOTE: Earnings continue to dominate the action. Yesterday, the market was focusing on a number of large multinational companies that failed to meet investor expectations. Today, we see a couple of highly influential companies beating expectations - Apple (AAPL) and Boeing (BA). This highlights the fact that we're simply consolidating late 2014 market gains right now as traders await the latest policy statement from the Federal Open Market Committee (FOMC) at 2pm EST today. ADDITIONS TO WATCH LISTS: We are adding one stock to our Large Cap Watch List as follows: BA - $100.34 billion market cap, entry at current price (140.78) and again at 133.00. We'll provide an annotated chart and more details on the website tonight. 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 - Currently trading in a 69.50-74.00 trading range, consolidating prior gains. RHT - Testing its rising 20 day EMA for the fourth time in the last six trading sessions. V - Slight breakdown technically past couple sessions, but WE ARE REMOVING V FROM OUR WATCH LIST AT IT REPORTS EARNINGS ON THURSDAY. Mid Cap Watch List: TASR - Negative divergence and slowing volume adding a bit of risk to holding TASR near-term. Longer-term, however, the volume trends here are superb so any short-term downside pressure, if it develops, most likely won't last. VDSI - Hanging onto the top of gap support at 21.13. This represents the best reward to risk entry point on the chart. Small Cap Watch List: QLGC - Set up technically to deliver solid quarterly earnings results tomorrow. But we don't hold into earnings reports, so WE ARE REMOVING QLGC FROM OUR WATCH LIST. DELETIONS FROM OUR WATCH LISTS: V and QLGC are being removed from our Watch Lists as they report earnings on Thursday. It's up to you whether to hold through earnings reports. Just please understand that stocks can and usually do experience heavy volume and volatility after earnings are released. There are no other deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com