EB Watch List Update Report

Dear Members, KEY EARNINGS REPORTS: Monday: None Tuesday: AZO, HRB, TOL These are just a few of the companies reporting today and tomorrow. Please check earnings dates for any stocks you own. ADDITIONS TO WATCH LISTS: There are no additions to the Watch Lists today. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: Large Cap Watch List: SCHW - Recently triggered our Initial Re-Entry at the rising 20 day EMA, which at the time was 24.30. It has since moved back above 25.00 on light to moderate volume and with a long-term negative divergence in play. Our Target Price remains at 27.00, but locking in profits now or on any close below 25.00 would not be a bad strategy. FSLR - Triggered our Final Entry at 56.40. This represents the price support established on the most recent breakout. Gap support is slightly lower at 55.64. ILMN - Similar to SCHW, ILMN is breaking out on moderate volume after triggering a Re-Entry price of 96.50. Selling at the current price or raising your closing stop to 100.00 wouldn't be a bad strategy given the long-term negative divergence in play. NSC - Super day on excellent volume. SPLK - Strong finish could leave a hammer on the chart at gap support. WSM - Approaching our Second Entry - the rising 20 day EMA. Mid Cap Watch List: CRR - Volume picking up as it challenges overhead resistance near 126.00. Given the volume, a strong finish today would be bullish. LOCK - Nice candle, but volume is light so don't read too much into it. 16.25-17.75 is the range for now. OPEN - Has been volatile, but note the light volume. Apparently, there's plenty of manipulation here with market makers. VIPS - Another 20 day EMA test. Small Cap Watch List: BLDR - Thus far holding onto gap support - consistently bouncing from that 6.55 level. ELY - Moved to fresh new recent low on increasing volume, not a great sign. But it is trying to reverse. A strong finish in the final hour would be more bullish near-term than the alternative. LIOX - Testing price support and the rising 20 day EMA in the 5.50 neighborhood. Could certainly bounce quickly from here. MMSI - Another test of 15.40 price support, but volume is unusually light. RLD - Triggered Second Entry at 8.20, the level of gap support. Would like to see this one rally from here. TASR - Fighting the now declining 20 day EMA currently. Nice bounce off 15.75-16.25 support, however. DELETIONS FROM OUR WATCH LISTS: There are no deletions today. Happy trading! Tom Bowley Chief Equity Strategist EarningsBeats.com