EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Thursday: ADSK, BUD, CHS, CUBE, GPS, HLF, JCP, KSS, MNST, ROST, SHLD, SPLK, TASR, TD, WEN Friday: None MARKET NOTE: Mixed economic reports were released this morning - good news on housing and durable goods and bad news on jobless claims highlighted the reports. Action today in equities has been strong with leadership from technology and healthcare. Within technology, internet stocks ($DJUSNS) have regained their form and you should be mindful of the fact that they have been consolidating in a very bullish ascending triangle pattern that measures to 1075 if and when a breakout above 900 occurs. We'd look for an upcoming test of 900 based on today's short-term breakout. ADDITIONS TO WATCH LISTS: There are no additions to our Watch Lists 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: ADBE - Up again today with very strong momentum in play. We could see profit taking at any time, but ADBE looks to trade higher in time. AN - Been weak on a relative basis, but it hasn't violated any major support levels as it continues to trade almost squarely on its 20 day EMA. For those looking for entry, this isn't a bad spot technically. ESRX - Failed to hold its triangle breakout level and today has fallen back slightly to test its rising 20 day EMA - our second and final entry point. We're keeping a tight closing stop beneath 84.50. The 50 day SMA, then price resistance closer to 80.75 would be the next levels for those wishing to provide more room to the downside. HAR - Challenged its recent high near 140. We may see more consolidation in the 130s if it can't clear 140 soon. Still the stock looks very strong technically and may just need a rest. Mid Cap Watch List: KLIC - Volume trends strong, but recent breakout failed to hold. Let's look for better support at the rising 20 day EMA. RYL - Appears to be settling into a bull flag formation with the flag forming between 44 support and 46 resistance. Nice looking chart and a nice looking industry group. 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!