EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Tuesday: ADM, AET, AFL, BP, CMG, DIS, EW, GILD, IACI, NOV, R, TM, TTWO, UNM, UPS, WYNN Wednesday: ADP, AGN, CLX, CTSH, FMC, FOX, GM, GMCR, GSK, HUM, IRF, LNC, MPC, MRK, ORLY, PRU, RL, SNE, SO, UA, WFT, YUM MARKET NOTE: Factory orders were very poor this morning, yet treasuries are selling off with yields climbing back near 1.75%. Semiconductors ($DJUSSC) were on the verge of failing to hold price support the past couple trading sessions but managed to print a bullish reversing candle on Monday. That's led to renewed strength in this area, helping to lead the market higher. Energy stocks (XLE) are the leader today, buoyed by higher crude oil prices ($WTIC), which have jumped more than 12-13% over the past week. 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 - Nice hammer on Monday, holding support just below 70.00. RAX - Hammer printed on Monday, holding onto closing price support. Bullish candle. RHT - Held price support near 63.50 with a hammer on Monday. Nice action. Mid Cap Watch List:. ODP - Mentioned yesterday hit excellent reward to risk area for long entry. Today announced plans for merger with Staples and is up 17.7%. Take the money and run. WE'RE REMOVING ODP FROM OUR WATCH LIST. GREAT TRADE!!! TASR - Another light volume drop today, probably more due to that negative divergence than anything. 25.00 remains solid price support and it's also close to the rising 50 day SMA (24.90). Small Cap Watch List: There are no Small Cap Watch List stocks at this time. DELETIONS FROM OUR WATCH LISTS: ODP is being removed after today's huge gap higher on fundamental news. There are no other deletions today unless closing stops are violated. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com