Welcome to the recap of Friday's MarketWatchers LIVE show. Listen and watch a show devoted to technical analysis of the stock market with live market updates. It's StockCharts.com's antidote for the CNBC/FBN lunchtime chatter.
Information abounds in our Monday/Wednesday/Friday 12:00p - 1:30p shows, but we will try to incorporate a few charts that you found the most interesting during the show (or that we found most interesting!). 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. Right now, enter your email address at the bottom of the article to be notified as soon as these recaps are published!
What Happened Today?
Talking Technically:
Today, Tom and Erin started the show off with important earnings announcements, economic news and developing news in the major markets. Markets were down somewhat, so Tom speculated the mixed economic reports on retailers and consumers might be putting downward pressure on the markets. Treasure Yields dropped today as well, the 10-minute bar chart illustrates the drastic downside move.
International ETF Watch: Erin finished the "Market Update" with a look at the winners and losers among the major international ETFs covered in the StockCharts.com Market Summary. Russia ETF (RSX) had the worst day, down nearly 1% while on the other hand the Brazilian ETF was leading the pack up almost 2% and putting in a cup formation.
The DecisionPoint Report: Erin gave the DecisionPoint analysis specifically on Gold, Oil and Bonds. You'll find those charts in her last blog entry here and in the upcoming "DecisionPoint Weekly Wrap" by Carl Swenlin on Saturday.
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. Our list of ten stocks today were: CVE, XOM, BHI, PKI.TO, MRK, CBI, BDX, SPHD, LL, KSS, K.TO. Here are a few of Tom's annotations:
Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook and Email.
Both were asked, "For MACD/PMO divergences: To resolve a divergence, does it require both a 50 MA test and MACD/PMO centerline test or just one of the two?" Interestingly they both used TSLA as an example. Erin explained that she likes to see a successful test of the 50-EMA and a PMO crossover on the way.
Tom says that he likes to see both, but it depends. Tesla is a good example.
It's a Wrap! In closing Erin discussed the Twitter viewer poll from Wednesday, noting that viewers overwhelmingly agreed with Tom and Erin (70%) that Energy ETF (XLE) was bullish on Wednesday and so far so good!
Checking the results of last week's sentiment poll, 45% of viewers felt the market would finish higher for the week while only 15% felt it would end lower. Interestingly, that 15% will likely be the winners with the SPX 0.32% (as of publishing) for the week. This week, Tom and Erin are in disagreement on the weekly sentiment poll. Erin believes the market will end flat next week, while Tom believes the market will finish higher. What do you think? Our viewer poll will be open on our Twitter feed (@mktwatcherslive) until showtime on Monday at noon EST.
Looking Forward:
Tune in on Monday at 12:00p - 1:30p EST on 05/13 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!!
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