EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Friday: AEO, BIG, BNS, CTB Monday: None These are just a few of the companies reporting today and Monday. Please check earnings dates for any stocks you own. ADDITIONS TO WATCH LISTS: There is one addition to our Large Cap Watch List as follows: SPLK, $7.37 billion market cap - entering at current price ($69.57) with second entry at 65.00. More details on annotated chart over the weekend. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List: SCHW - Quickly moved back to resistance at 25.00. Nice quick 2.0-2.5% profit if interested. I prefer the 27.00 target, but recognize we could see some back and forth in this current range. FSLR - Testing recent lows in the 57.50-58.00 area. Not great short-term action, but still within the confines of the longer-term uptrend. 56.40 is our Final Entry and represents solid price support. GOOG = Gapped up to a fresh new high this morning. HAS - Weak, but the long-term negative divergence helps to explain it. 50.00-50.50 is a much more significant support area technically. MCHP - Bouncing with the strong semiconductor group today. NSC - Nice breakout today - finally. ROC - Huge move at the open this morning and volume is strong. VMC - Nice to see back above 55.00 and the 20 day EMA. Volume is decent as well. Mid Cap Watch List: AYI - Moving back up after testing neckline support in a potential head & shoulders pattern. Increasing volume and a breakdown beneath 98.50-99.00 on a closing basis should be respected. Otherwise, it remains fine. We could simply be unwinding the MACD back to centerline support. AZPN - Breaking out; could use more volume. GNTX - Nice bounce off 20 day EMA, but volume is light and there's more work to do here. Need a close over 30.50 with increasing volume to encourage more technical buyers. GPN - Mentioned this one testing its rising 20 day EMA for the first time since earnings and it's bouncing nicely today off that level. Light volume, though, so if in, consider taking profits near 64.00. Small Cap Watch List: BLDR - Strength in this industry group today, so a bit disappointed we're not seeing more positive action off gap support. Will keep closing stop at 6.50 in place. ELY - Showing a bit of strength today, but there'll likely be some short-term resistance near 8.00 and the falling 20 day EMA also resides there. TASR - Very nice reaction to its 50 day SMA test, which effectively has reset the daily MACD on this one. DELETIONS FROM OUR WATCH LISTS: There are no deletions today. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com