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/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.
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What Happened Today?
Special Guest - Arthur Hill: With Arthur as their guest, Tom and Erin let him take the reins for the first part of the show. He discussed everything from the Dollar to Airlines among others. It would be impossible to recap all of the information, but Arthur suggests that you read his latest Art's Charts blog here.
Ten in Ten Before One: In this regular segment, Tom reviews ten charts in ten minutes with Erin's comments upon delivery of the symbol. 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 Friday. Symbols reviewed today: BLDP, MCD, CASY, WTI, EXTR, WTW, NETS, STLD, COTY and CB. You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.
Agree or Disagree? In this regular segment, Tom and Erin take a topic and agree or disagree. Erin posts the Agree or Disagree polls on Twitter to find out what you think. The current Twitter polls are here. Erin will present the results on Friday's show. Arthur agreed to stick around and discuss today's topic of whether the Energy SPDR (XLE) has bottomed for the year and is headed higher. Arthur and Erin agreed that XLE was ready take off and had likely tested the bottom for the year. Tom being contrarian, was still not fond of XLE when he reviewed the weekly version of the candlestick chart. The 20-EMA has formed serious resistance. As of the show airing, it hadn't quite broken above it. You'll see Erin's RRG below showing XLE gaining and heading the in the "Northeast" direction which shows strength. Click on the graphic to reach the link to the RRG chart.
It's a Wrap! It was great to have Arthur on the show! The synergy was great and we got a different view (and voice) to see (and listen to). We hope to have Arthur back on the show soon!
Tune in on Friday at 12:00p - 1:30p EST on 9/13 for a review of sentiment polls and the results of the Agree/Disagree segment on XLE.