Welcome to the recap of Monday'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.
Information abounds in our Monday/Wednesday/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 and/or #mktwatchers, email is email@example.com and our Facebook page is up and running so "like" it at MarketWatchers LIVE.
What Happened Today?
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". Erin and Tom pick their favorite Monday Set-Up for review the next week. Last week the 'picks' were COHR for Tom and MTB for Erin. COHR was the upside winner, gaining 4.94% last week. MTB didn't have a bad week, it was up 1.95%. Today's Set-Ups included EADSY, EWI, PRO and ROG for Erin with her top pick being PRO; and for Tom-- IRBT, AAN, AAPL, and FORM with his top pick being Aaron Rents (AAN).
Earnings Spotlight (EarningsBeats - John Hopkins): John mentioned JPM was reporting on Friday, but he likes the chart. WFC is due for an earnings report as well. These large caps stocks are kicking off the earnings season and we should find many many opportunities in the coming month. The EarningsBeats.com Chart of the Week is Synnex Corp (SNX). For more information, go to EarningsBeats.com.
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: PETS, VNM, SEA, FEYE, FOXA, AMWD, CPB, SQ, BLUE and SGY.TO. You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.
DecisionPoint Report: Erin reviews sentiment charts on Monday and gives a quick peek at DP indicators to give us a heads up on the market conditions as we start the week. 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. Below are the Twitter sentiment poll results as well as the Wall Street Weekly Sentiment chart. Seems there are more bears among market timers, but our viewers are pretty much split. Erin is looking for a lower close this week.
American Association of Individual Investors (AAII) and National Association of Active Investment Managers (NAAIM) charts are below. What is clear is that sentiment is still mixed, notice the near "1.0" bull/bear ratio.
Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook and Email. Tom was asked how he reads the MACD lines and histograms. He gave us basic instruction, but it would be most beneficial to check out the ChartSchool article here. Erin showed viewers how to create RRG charts from a ChartList and how to find the seasonality for individual stocks. From the member page, go down to your ChartLists. Select "View as" and choose "RRG", this will automatically set up an RRG chart of all of the members of that ChartList. To create a seasonality charts of all members of your ChartList, go to "View as" and choose "Seasonality".
It's a Wrap! In closing Erin discussed the Twitter "Agree/Disagree" viewer poll from Friday. The majority of viewers felt the market has NOT reached its all-time high for the year. Tom is in agreement. Erin is saying it is likely the final all-time high, but it is really difficult when we still have over 5 months of the year left still.
Tune in on Wednesday at 12:00p - 1:30p EST on 7/12. Tom and Erin will be answering more mailbag questions, doing another Ten in Ten segment as well as regular market updates and indicator reviews!