MarketWatchers LIVE

12/11 MarketWatchers LIVE Recap - Monday Set-Ups - DecisionPoint Report

Erin Swenlin

Erin Swenlin

Co-Founder, DecisionPoint.com

 

Welcome to the recap of today'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. 

Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, email is marketwatchers@stockcharts.com and our Facebook page is up and running so "like" it at MarketWatchers LIVE. You'll also find archives of our shows on our Facebook page and YouTube channel. Don't forget to sign up for notifications at the end of this blog entry by filling in your email address. 


What Happened Today?

Monday Set-Ups:

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", MET for Erin @ $53.87, today it was reading $53.85 which was a wash; KLIC for Tom @ $23.70 and today it was $24.31 for about a 2% gain. Well done, Tom! Today's Set-Ups included PMO for Erin @$12.53 and GNRC for Tom at $49.29.

Erin liked the pennant set up that would put PMO above overhead resistance should it execute properly. Note also today's ST Trend Model BUY signal.

Excerpt from "Trading Places" blog: "This week, my featured setup is Generac Holdings (GNRC).  There appeared to be massive accumulation in late August and throughout September before volume started to tail off in October as a final high was made with slowing price momentum - a negative divergence on its MACD.  At the time, RSI was well up into the 70s and a bearish engulfing candle printed to finally establish a short-term high.  Since then, GNRC has drifted lower to test the top of gap support with its RSI dropping back into the 40s.  While certainly no guarantee, I really like the reward to risk with accumulation in its gap support zone from roughly 46 to 48.  My initial target would be to retest the recent price high near 54.  Check it out:"

 

Earnings Spotlight (EarningsBeats - John Hopkins): Today John featured the "Chart of the Week" from EarningsBeats.com. Nice volume on the gap up for earnings. He then waits for the pullback. After penetrating the 20-EMA it returned and exploded.

He also talked about IMAX. A company on the EarningsBeats' ChartList, got overbought and he patiently waited for a test of the 50-MA. Members were given this stock last week and he thinks it will breakout nicely.

The next stock NFX, EarningsBeats.com got involved at $29.28 with a price target of $31.30. 

 

Ten in Ten Before One: In this regular segment, Tom reviews ten charts in ten minutes with Erin's comments and comments from the Twitter "peanut gallery" peppered in there. Send in your symbol requests via Twitter (@mktwatcherslive) before the show and we'll try and add them. Symbols reviewed today: SCG, KO, RIOT, DNR, URA, THO, ERJ, ITA, OSTK and WM.  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. Erin will be publishing a "DP Alert" in today's DecisionPoint blog that will give you a complete picture of what she discussed today, so stay tuned to the DecisonPoint blog. The best way is to sign up for email alerts when an article is published in the DecisionPoint blog. You'll find notification email box at the bottom of the blog articles. Also for a longer-term perspective, 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. 

 

Looking Forward:

Tune in on Tuesday at 12:00p - 1:30p EST on 12/12. Tom and Erin will give you a SCTR Report and we'll have a special guest from StockCharts to talk about exciting features on the site.


Helpful MarketWatchers LIVE Links:

Facebook - MarketWatchers LIVE Page

YouTube Channel for StockCharts

Erin's PMO Scan

Tom's Trading Places Blog

DecisionPoint Blog

MACD

PMO -Price Momentum Oscillator

RSI - Relative Strength Index

OBV - On Balance Volume

Stochastic

 

Erin Swenlin
About the author: is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California. Learn More