EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: DE Monday: AXL, CTB, DDS, DISH, ESRX, SINA MARKET NOTE: The market is relatively flat as it's doing a great job of digesting recent gains into all-time high territory on the S&P 500 and Russell 2000. The NASDAQ still has some room to reach its all-time high, but it has been performing very well on a relative basis and that helps to sustain a bull market advance. We have a few short-term issues holding the market back, like negative divergences on the 60 minute intraday time frame, historical headwinds and options expiring on Friday, but the bulls aren't giving up easily. I would avoid shorting and use strength to take profits and build cash to put back into the market during an inevitable short-term pullback. ADDITIONS TO WATCH LISTS: There are no additions to our Watch List today: BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Short Watch List: There are no Short Watch List stocks at this time. Large Cap Watch List: AN - Weak today, but fell back to price support and now trying to bounce. BA - Leading the aerospace area higher today, great action but very overbought. MCO - Nearly tested its rising 20 day EMA this morning before showing a bit of strength. RHT - Despite the recent 60 minute negative divergence, RHT continues its advance. Strong action. Mid Cap Watch List: RY - There's been very little selling in this one since the home construction index broke out of its bullish two year ascending triangle pattern. SYNA - Great action continues. 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