Welcome to the recap of Monday's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot. You'll find the latest episode here.
Information abounds in our Monday through Friday 12:00p - 1:30p shows, but the MWL Blog will give you a quick recap. Be sure and check out the MarketWatchers LIVE ChartList for many of today's charts.
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** UPCOMING SCHEDULE **
Wednesday (11/29) - Julius de Kempenaer RRG Charting
Friday (12/1) - Tom Bowley's Workshop
Saturday (12/2) - ChartWatchers Newsletter Released
What Happened Today?
Wednesday (11/23) Mark Young of WallStreetSentiment.com - Erin was in the midst of the flu on Wednesday morning and fought through all weekend. Since we didn't get a recap up, we wanted to post some links that Mark talked about on the show as he helped co-host on 11/23. Mark gave viewers the opportunity to take advantage of an extended trial to his website. Here is the link. Additionally, he discussed the real-time sentiment poll that is on traders-talk.com. You can go there and participate in the poll and see results for free!
Every Monday, Tom and Erin look at which charts are shaping up as "ones to watch" for the week, but to start, they reviewed last week's Monday Set-Ups "picks", Erin had MTH at $50.35 and Tom had GWW at $198.29. MTH was at $51.20 and GWW was at $201.54 as of airing which gives Erin a 1.7% gain and Tom a 1.64% gain. Tom was out today and Greg Schnell joined Erin as co-host so he picked Tom's set-up for him today. Today's Set-Ups included PARR at $20.40 for Erin and SHOP at $114.97 for Tom.
Greg Schnell's Two Cents: Since we had Greg on, we of course had him talk energy, commodities and metals. He did spotlight IBB and its price relative to the major sector SPDRs to start off and then built from there. Greg believes are IBB is at a critical point of support/resistance.
Ten in Ten Before One: In this regular segment, Tom reviews ten charts in ten minutes with Erin's comments and comments from the "peanut gallery" peppered in there. With Tom on vacation today, Erin took five symbols and then Greg took five symbols. Send in your symbol requests via Twitter (@mktwatcherslive) or email (firstname.lastname@example.org) before the show or in the live chat box during the live broadcast and we'll try and add them. Symbols reviewed today: SA, WDC, INTC, AMD, KMX, XLE, PICK, RSX, TECK and UCTT. You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.
DecisionPoint Report: On Monday Erin analyzes DP indicators to give us a heads up on the market conditions as we start the week. She also reviewed the "big four": Dollar, Oil, Gold & Bonds. Don't miss the DecisionPoint Weekly Wrap by Carl Swenlin on Saturday morning to get the scoop on market action the prior week and find out what the indicators are suggesting for the future. The most important chart to share is the DP intermediate-term indicator chart of the ITBM and ITVM. We are now seeing them finally swinging upward and could be headed for a positive crossover their signal lines. Both Carl and Erin agree that we are likely going to see the rally continue until the January hangover.
It's a Wrap! Thank you to Greg who helped co-host today while Tom was out. Tom will be back tomorrow!
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