MarketWatchers LIVE

12/15 MarketWatchers LIVE Recap - Tom's "Price Support and Resistance" Workshop

Erin Swenlin | 


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 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. 


Wednesday (12/20) - Greg Schnell will join us for a "Point & Figure Review"


What Happened Today?


Tom's Workshop on "Price Support and Resistance" (00:20): Tom gave us a very thorough review of support and resistance, how and why it forms and how to use it for trading. You'll want to go review this workshop that begins 20 minutes into the show.


Ten in Ten Before One: In this regular segment, Tom attempts to review ten charts in ten minutes. Send in your symbol requests via Twitter (@mktwatcherslive) before the show or using the live chat box during the LIVE program and we'll try and add them. We'll also check our email for symbol requests before the show ( You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.


Sentiment Update (1:08): As usual on Friday, Erin gave us the latest results of sentiment polls and the Rydex Ratio. Of particular interest today was the NAAIM exposure index which logged its highest reading since we started tracking it in 2006!


It's a Wrap! In closing Erin discussed the Wall Street Sentiment poll to see if Tom and Erin were correct on the market close for the week. Turns out Erin who was a bull for the week was correct, but Tom wasn't too far off on a "neutral". This week, Tom and Erin are in disagreement again. This time Erin believes the market will finish mostly unchanged or neutral next week, while Tom believes the market will move higher. What do you think? Our viewer poll will be open on Twitter until showtime on Monday at noon EST.


Looking Forward:

Tune in on Monday at 12:00p - 1:30p EST on 12/18 for Monday Set-Ups. Tom and Erin will discuss which charts look hot or not for the upcoming week.

The regular segments, Ten in Ten to One and Mailbag are also on tap for Monday, where we look at your recent questions and symbol requests.

Don't miss it!!

Helpful MarketWatchers LIVE Links:

Facebook - MarketWatchers LIVE Page

YouTube Channel for StockCharts

Erin's PMO Scan

Tom's Trading Places Blog

DecisionPoint Blog


PMO -Price Momentum Oscillator

RSI - Relative Strength Index

OBV - On Balance Volume


Erin Swenlin
About the author: helped create and manage the website alongside her father, Carl Swenlin. Together, Erin and Carl launched the DecisionPoint daily blog in 2009. She hosts the MarketWatchers LIVE web show at, and is also a Member of the CMT Association.
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