MarketWatchers LIVE

1/16 MWL Recap: David Keller on "Analyzing Our Appetite for Anchoring" - Technical Scans

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Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads. Our show is devoted to technical analysis of the stock market with live market updates and analysis of hot symbols. The show runs throughout the day on StockCharts TV; you can also find the latest episodes on the YouTube StockCharts channel here.

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What Happened Today?

Technical News:

 

David Keller "Analyzing Our Appetite for Anchoring" (0:21:36):

Today David Keller discussed the concept of "anchoring" in regard to investing. Anchoring is a cognitive error described by behavioral finance in which individuals fixate on a target number or value – usually, the first one they get, such as an expected price or economic forecast.

 

Ten in Ten Before One (0:58:18): 

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. We'll also check our email for symbol requests before the show (marketwatchers@stockcharts.com). You'll find all of these charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.

 

Technical Scans (1:12:31): 

Below are the three scans that Erin shared with viewers today:


General PMO Scan:

// Narrows down the universe to stocks with decent volume and from the US
[type = stock] AND [Daily SMA(20,Daily Volume) > 100000]
AND [country is US]

// Keeps the penny stocks and high volatility stocks out of your results
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)]

// This identifies a PMO rising for 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)]

//This ensures we get a positive IT and LT Trend Model configuration
AND [today's ema(20,close) > today's ema(50,close)]
AND [today's ema(50,close) > today's ema(200,close)]

//This identifies stocks with SCTRs greater than 75 or in the "hot zone"
AND [SCTR > 75]


Scan for Dogs:

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

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

and [SCTR <75]


Turning Point Scan (Moving from bearish configuration to bullish configuration):

// 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]


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

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


Looking Forward:

Tune in on Thursday at 12:00p-1:30p EST for Julius de Kempenaer.


Helpful MarketWatchers LIVE Links:

Facebook - MarketWatchers LIVE Page

YouTube Channel for StockCharts

Erin's PMO Scan

Tom's Price Relative Chart (Save this ChartStyle to apply it to your charts anytime!)

Tom's Trading Places Blog

DecisionPoint Blog

MACD

PMO -Price Momentum Oscillator

RSI - Relative Strength Index

OBV - On Balance Volume

Stochastic

Tom's 10-Year Treasury Yield v. German 10-Year Treasury Yield Chart

Tom's Consumer Discretionary Sector Relative to Consumer Staples Sector

 

 

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. Learn More
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