MarketWatchers LIVE

1/5 MarketWatchers Recap - DecisionPoint Scanning Workshop and Sample Scans

Erin Swenlin | 

 

Welcome to the recap of today'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 marketwatchers@stockcharts.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. 


 

What Happened Today?

 

DecisionPoint Scanning Workshop with Erin Swenlin: Today Erin presented a workshop on using DecisionPoint tools for scanning. You'll want to watch the recording, but here are few of her slides followed by a group of the scans she demonstrated today. For her 'favorite' scan, click on the link at the bottom of this blog for scan language and more detail.

Here are some of her scans that you can copy and paste into your own scan list.

PMO Scan to Rule Them All

// The "universe" you are scanning:
[group is SP500]
OR [group is SP600]

// PMO has not yet had a crossover:
AND[today's PMO Line(35,20,10)<today's PMO Signal(35,20,10)]

// PMO Rising for last three days:
AND [today's PMO Line(35,20,10) > yesterday's PMO Line(35,20,10)]
AND [yesterday's PMO Line(35,20,10) > 2 days ago PMO Line(35,20,10)] 
AND [2 days ago PMO Line(35,20,10) > 3 days ago PMO Line(35,20,10)]

// Positive Line-up of EMAs 20-EMA > 50-EMA > 200-EMA (Implies Stock is in an IT or LT Bull market:
AND [today's ema(20,close) > today's ema(50,close)]
AND [today's ema(50,close) > today's ema(200,close)]

 

Trend Model & PMO Crossovers Scan for Financial Sector (Can substitute any Sector or Industry Group)

 [group is FinancialSector]

AND [today's ema(20,close) > today's ema(50,close)]
AND [yesterday's ema(20,close) < yesterday's ema(50,close)]
AND [today's ema(50,close) > today's ema(200,close)]
AND [today's PMO Line(35,20,10) > today's PMO Signal(35,20,10)]

 

20/50-EMA Positive Xover and LT Trend Model on a BUY

[type = stock] AND [Daily SMA(20,Daily Volume) > 50000]
and [country =US]

AND [today's ema(20,close) > today's ema(50,close)]
AND [today's ema(50,close) > today's ema(200,close)]

and [today's PMO Line(35,20,10) > today's PMO Signal(35,20,10)] and [yesterday's PMO Line(35,20,10) <= yesterday's PMO Signal(35,20,10)]

 

5/20-EMA Positive Xover and 3-Day Rising PMO

// Narrows down the universe to US stocks with decent volume and a close above $10

[type = stock] AND [Daily SMA(20,Daily Volume) > 50000]
AND [country is US]
AND [Close > 10]

// This identifies a PMO that hasn't yet had a positive crossover its signal line

AND[today's PMO Line(35,20,10)<today's PMO Signal(35,20,10)]
AND [today's PMO Line(35,20,10) > yesterday's PMO Line(35,20,10)]
AND [yesterday's PMO Line(35,20,10) > 2 days ago PMO Line(35,20,10)] 
AND [2 days ago PMO Line(35,20,10) > 3 days ago PMO Line(35,20,10)]

// Stock is in a "bull" market - 50-EMA higher than 200-EMA

AND [today's ema(50,close) > today's ema(200,close)]

// Stock just had a 5-EMA positive crossover 20-EMA - Short-Term bullish

AND [today's ema(5,close) X today's ema(20,close)]

 

Ten in Ten Before One: In this regular segment, Tom attempts to review ten charts in ten minutes. Send in your symbol requests via Twitter (@mktwatcherslive) before the show or using the live chat box during the LIVE program and we'll try and add them. We'll also check our email for symbol requests before the show (marketwatchers@stockcharts.com). You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.

 

Sentiment Update: Very interesting sentiment charts today. Here's the summary:

 

BIG THANK YOU TO GREG SCHNELL FOR CO-HOSTING TODAY!!

Greg did the 10 in 10 charts today which are in the MWL ChartList. He also sent along these two bonus charts!

 

Looking Forward:

Tune in on Monday at 12:00p - 1:30p EST on 1/8 for Monday Set-Ups. Tom and Erin will discuss which charts look hot or not for the upcoming week and Erin will give us the latest DecisionPoint Report.

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!!


Helpful MarketWatchers LIVE Links:

Facebook - MarketWatchers LIVE Page

YouTube Channel for StockCharts

Erin's PMO Scan

Tom's Trading Places Blog

DecisionPoint Blog

MACD

PMO -Price Momentum Oscillator

RSI - Relative Strength Index

OBV - On Balance Volume

Stochastic

Erin Swenlin
About the author: helped create and manage the DecisionPoint.com website alongside her father, Carl Swenlin. Together, Erin and Carl launched the DecisionPoint daily blog in 2009. She hosts the MarketWatchers LIVE web show at StockCharts.com, and is also a Member of the CMT Association.
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