MarketWatchers LIVE

12/5 MarketWatchers LIVE Recap - Chart Breakouts - "What Would You Do?"

 

Welcome to the recap of Tuesday'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. 


** UPCOMING SCHEDULE **

Wednesday (12/6) - Guest Tushar Chande on the "Trend Meter"

Thursday (12/7) - Greg Schell Co-Hosts with Tom

Friday (12/8) - Erin's Workshop on "DecisionPoint Trend Models"

 


What Happened Today?

Talking Technically:

Tom and Erin start the show off with important earnings announcements, economic news and developing news in the major markets. Some of the highlights discussed today were two new economic reports that came in under expectations. Here's the story via Bloomberg. PMI Services Index reported 54.5 v. 54.7 the market was expecting. "Markit's U.S. service-sector sample reported solid growth but still the softest since June, at a composite score of 54.5 in November which is little changed from the mid-month flash and down 8 tenths from October." The second report, ISM Non-Manufacturing Index came in at 57.4 v. 59.0 the market was expecting. "Growth cooled noticeably in ISM's non-manufacturing report with is probably a plus given unsustainably high levels in prior reports. At 57.4, November's composite score came in below the low end of expectations but is still however a very strong rate of growth."

Tom discussed Toll Brothers which came in with good earnings. He likes the home builders industry group right now. Erin took a look at two upgrades on VALE and MCD. In particular with VALE, Erin noted that a short-term double-top could be forming and upside potential seems somewhat limited. A nice pullback and support along the neckline would be necessary for Erin to consider this a trade right now.

 

 

Chart Breakouts: Erin showed us about 14 charts with breakouts. She explained that she used the pre-defined scans to pull these charts out for a look. Here are a few that she annotated.

 

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. If we missed them this show, we have many of them in the queue for Monday. Symbols reviewed today: IPGP, CCJ, XIV, EXTR, SQ, AVGO, BLKB, GIS, LNR.TO and MRK.   You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.

 

What Would You Do? In this regular segment, Tom and Erin take a look at one stock and then ask the audience, "What would you do?" with this stock, BUY/HOLD, SELL/SHORT or LEAVE IT/Neutral. Today's chart was for DATA. Erin and Tom didn't completely agree today. Erin was bullish on DATA and for the purposes of this exercise said that she would be a buyer. Tom said that he would leave it alone. Here's Erin's chart with her annotations that she believes supports her position. As far as the audience was concerned, it was split between Erin and Tom's views. What would you do? Take the Twitter poll here.

 

Looking Forward:

Tune in on Wednesday at 12:00p - 1:30p EST on 12/6 to see our special guest, Tushar Chande discuss his "Trend Meter" and his thoughts on the market.


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

 

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