Welcome to the recap of Wednesday'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 email@example.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 **
Thursday (12/7) - Greg Schell Co-Hosts with Tom
Friday (12/8) - Erin's Workshop on "DecisionPoint Trend Models"
Saturday (12/9) 11:00a EST - "StockCharts Outlook" webinar with Tom Bowley and Greg Schnell
What Happened Today?
Tom gave us a few economic reports from Bloomberg today. Mortgage Applications rose 4.7% compared to last week with -3.1%. The ADP Employment Report showed a reading of 190,000 when the market expected 186,000 which is a slight beat. As far as Productivity and Costs, the economy has picked up and wages have grown slightly, non-farm productivity came in at 3.0% with the market expecting 3.2% and unit labor costs were down -0.2%, the market was expecting a 0.3% increase. Tom also discussed the VIX and the XLK which is showing price momentum weakness and bearish volume.
Guest Tushar Chande: We spent nearly the entire show with Tushar and the discussion was interesting and lively on air and in the chat room. We highly recommend you listen to his presentation on recording. Below are a few of the slides he highlighted.
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: QCOM, XEG.TO, COPX, SWKS, AAXN, HP, INTC, USO, IEMG and WFX. You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.
Tune in on Friday at 12:00p - 1:30p EST on 12/7 to see Greg Schnell co-host with Tom! Should be fun listening to their friendly sparring and give you a sneak peek into Saturday's StockCharts Outlook.
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