EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: IT, RRGB, SJM Monday: None MARKET NOTE: Our major indices are performing fairly well again, but the Dow Jones, S&P 500 and Russell 2000 had not made the breakout that the NASDAQ made - at last check. Keep in mind that next week historically is not a good one so in addition to price resistance, the market will face historical headwinds. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists 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 - 76.02 is the closing breakout level on ADBE, which is showing much more bullishness of late. Accumulation appears to be complete so a breakout would be bullish. RHT - 69.00, then 71.00 are the next two price resistance levels the bulls will need to negotiate. Nice action. Mid Cap Watch List: SYNA - 79.29 is closing price resistance. If in at cheaper prices, this is a sell point to take short-term profits. Eventually I do look for higher prices, but next week is typically bearish for equities so don't hesitate to capture profits. TASR - tested 28.00 once again as the consolidation continues. Pattern here looks good as do volume trends. Most likely waiting on earnings to determine next move. 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