Welcome to the recap of Friday'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. Remember! You can now watch the latest episode under the "Webinars" tab!
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 firstname.lastname@example.org and our Facebook page is up and running so "like" it at MarketWatchers LIVE. Don't forget to sign up for notifications at the end of this blog entry by filling in your email address.
What Happened Today?
Talking Technically: Today Tom and Erin focused in on the Airlines during the first segment. Both agree that the industry group looks great. Take a look at Erin's version of the chart below. There's a PMO BUY signal that came in oversold territory. Nice break from declining tops trendline and above resistance which is now providing support. Erin's concern is the recent 50/200-EMA negative crossover which technically puts the $DJUSAR in a bear market configuration. Today's closing avoidance by the 5-EMA of the 20-EMA prevented a new ST Trend Model BUY signal, so be careful out there folks.
Earnings Spotlight with John Hopkins: John joins us on Fridays to go over some of the best opportunities that earnings provide on stocks that he follows on his website, earningsbeats.com. Today he spotlighted four stocks in particular. NVDA, SGMS (prior chart of the week on EB), KORS and this week's chart of the week, SFR. John will be writing more on these in this weekend's ChartWatchers newsletter. Here's what John published about SFR:
"Stock was added with entry price of $35.60, a price target of $37.90 and a stop of any INTRA DAY close below $35.27. Would be bullish to close back above the 20 day moving average, currently at $36.30."
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. Symbols reviewed today: MU, RRGB, ACAD, V, GOOGL, AMAT, PETX, TEAM, TAN, and EFX. You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.
Sentiment Update: The sentiment charts this week gave mixed signals between the individual investors and money managers. Remember that sentiment is contrarian, so if individual investors are very bullish, that is bearish. The American Association of Individual Investors (AAII) shows a major shift toward bullish sentiment. Notice when we get extremely bullish readings on the bull/bear ratio, a decline or at least consolidation, typically follows.
Here's the interesting chart. Below is the National Association of Active Investment Managers (NAAIM) exposure reading. Notice that they have pulled back their exposure quite a bit. They are feeling bearish right now and that would be considered bullish for the market.
Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook, Livestream chat box, and Email. There was a question on what do we consider "short term", "intermediate term" and "long term". Tom thinks of short term in days and intermediate and long term in weeks. Erin says she actually has four time horizons. "Ultra-short term" is hours to a day or two. "Short term" is days to a week or two. "Intermediate term" is weeks to a month or two and "long term" is in months.
It's a Wrap! This week, Tom and Erin are in agreement. Erin believes the market will finish neutral to lower next week and Tom agreed. What do you think? Our viewer poll will be open on Twitter until showtime on Monday at noon EST.
Tune in on Monday at 12:00p - 1:30p EST on 9/18 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!!