EB Watch List Update Report - Delayed

Dear Members, A full update will be provided later this afternoon, but likely after the market closes. The biggest story among the various Watch List stocks is that many are overbought and threatening recent highs. In other words, they're at levels where many short-term traders will take profits and await lower entry points. I'm also seeing a high number of bearish reversing candles - shooting stars, bearish engulfing candles, dark cloud cover candles, etc. Given that options expired last week, many stocks could have expired well "in-the-money", setting themselves up for short-term weakness. I don't expect the selling to be anything extraordinary. Rather, it will likely set up entry opportunities. ILMN is a Large Cap Watch List stock that has been selling off the past few days and is now nearing initial entry at 92.00. TIBX is a stock that's close to stopping out. Our closing stop is at 23.78 on a closing basis. But the overwhelming majority of Watch List stocks are in great shape technically where some short-term selling increases our reward to risk opportunities. The Update Report should be out between 4-5pm EST. I apologize for the delay. Tom Bowley Chief Equity Strategist EarningsBeats.com