MarketWatchers LIVE

4/21 Friday MarketWatchers LIVE Show Recap

Erin Swenlin

Erin Swenlin

Co-Founder, DecisionPoint.com

 

Welcome to the recap of Friday's MarketWatchers LIVE show. Listen and watch a show devoted to technical analysis of the stock market with live market updates. It's StockCharts.com's antidote for the CNBC/FBN lunchtime chatter.

Information abounds in our Monday/Wednesday/Friday 12:00p - 1:30p shows, but we will try to incorporate a few charts that you found the most interesting during the show (or that we found most interesting!). 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.


What Happened Today?

Market Update:

Everyday, Tom and Erin start the show off with important earnings announcements, economic news and developing news in the major markets. It was noted that with options expiration upon us, we would likely see little price movement on higher volume. The major market indexes seemed to be in agreement. Of interest particularly were the possible bull flag on the Dow and broken rising bottoms resistance on the S&P 500:

 

Talking Technically: On Friday Tom and Erin focus on interesting earnings news, social media questions/polls, etc. Today Erin focused on sentiment numbers from AAII and NAAIM and Tom looked at some earnings darlings as well as hot industry groups. Today Tom reviewed the restaurant sector ($DJUSRU) and home builders sector ($DJUSB) to include BGG, SHW, COL, SBUX, BWLD.

 

Market Updates: Erin reviews the intraday action of the major indexes, sectors and the "Big Four", (Dollar, Gold, Oil & Bonds). Tom and Erin are in disagreement over the Dollar short term with Erin bearish and Tom bullish. What do you think? Send us your comments via Twitter at @mktwatcherslive or via email at marketwatchers@stockcharts.com.

SCTR Movers - Top Ten: Tom and Erin looked at which symbols were big movers on the day using the homepage tables. Not only a big SCTR mover, Kinross Gold (K.TO) was also a symbol requested by a viewer. 

 

 

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. Erin and Tom both looked at RY.TO, KITE, THC, POT, SSYS, MTZ, PLUG, CMG, among others. 

Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook and Email.

Tom, how do you position yourself during sideways markets? Tom pointed out that even if the market is moving sideways, you will still be able to find industry groups that are doing well that you can rotate into or review, especially in a intermediate- to long-term bull market consolidation phase.

Erin, what is the PMO? Erin gave a generalized view of the Price Momentum Oscillator (PMO) that was developed by Carl Swenlin. In a nutshell, it is a rate-of-change calculation that measures price momentum. Erin recommended that viewers review the article on the PMO in ChartSchool.

It's a Wrap! In closing Erin discussed the Twitter viewer poll from Monday to see if viewers (and Tom and Erin) were correct in the market close for the week. The majority of viewers felt the market would finish higher for the week and they likely will be correct with the SPX already up nearly .90% for the week as of publishing. Look for our Twitter polls at @mktwatcherslive. This week, Tom and Erin are in disagreement. Erin believes the market will finish higher next week, while Tom believes it will close lower. What do you think? Our viewer poll will be open on Twitter until showtime on Monday at noon EST.

Looking Forward:

Tune in on Monday at 12:00p - 1:30p EST on 04/24 for Monday Set-Ups (with special guest Greg Schnell, if we can twist his arm to join). 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 on tap where we look at your recent questions and symbol requests.

Don't miss it!!

 

 

Erin Swenlin
About the author: is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California. Learn More