EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: APC, IDTI, LII, PBI, SYY, XOM Tuesday: ADM, AET, AFL, BP, CMG, DIS, EW, GILD, IACI, NOV, R, TM, TTWO, UNM, UPS, WYNN MARKET NOTE: Our major indices are likely benefiting from a few technical and historical conditions. Earlier this morning, both the Dow Jones and S&P 500 either approached or moved just below key short-term price support. The bulls didn't flinch, however, and prices recovered as positive divergences printed on their respective 60 minute charts. In addition, today represents the first trading day of February and positive money flow typically sends the stock market higher the first few trading days of the calendar month. ADDITIONS TO WATCH LISTS: There are no new Watch List stocks being added at this time. 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 - Has certainly established 69.89 gap support as key closing price support as well. BA - Falling back some after a huge volume advance confirmed its recent breakout. BA was very overbought so the recent weakness is helping to alleviate those conditions somewhat. HSIC - For the first time in months, HSIC is testing its rising 50 day SMA. Failure to hold on today's close could lead to additional short-term weakness while a reversing candle there today could mark a significant near-term bottom. RAX - Price action and the declining daily MACD print a picture of a weakening stocks. However, volume trends here remain quite strong and I like the recovery after the earlier low today. RHT - Has triggered our second entry at 63.50. Mid Cap Watch List: CUBE - Testing rising 20 day EMA - great action. ODP - 7.44 gap support touched today, not a bad entry point from a reward to risk perspective. SYNA - Volatile action, but momentum is strengthening on the buy side and downtrend has been reversed. TASR - Negative divergence and recent light volume making it difficult in the near-term. Long-term, still quite bullish. Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: There are no deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com