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 "technical" market updates and symbols that are hot.
Information abounds in our Monday/Wednesday/Friday 12:00p - 1:30p shows, but we 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.
What Happened Today?
Talking Technically: At the beginning of the show, Erin went through the market update and noticed AMAT was having an incredible day. Turns out there is merger/takeover murmurs which helped it take off. Options expiration was today. Typically you'll see very high volume with little price movement...not so today. Greg discussed John Deere and agricultural sector.
DecisionPoint Report: Erin reviews DecisionPoint indicators and other charts of interest during the regular "DecisionPoint Report" segment. Of concern to both Greg and Erin are the similarities between the current set-up for intermediate-term indicators (PMO, ITBM, ITVM) and the set-up before the drop in 2015. Erin did point out that one difference was the configuration of the PMO tops this time around in comparison to last time around.
Ten in Ten Before One: In this regular segment, Tom reviews ten charts in ten minutes. Since Greg joined us today, we both looked at the following symbols BRK.B, BAC, PI, MAS, PXLW, TWTR, NFLX, PG, KO. 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.
Sentiment Review and Poll: Today Erin reviewed the results of Wednesday's Poll:
To take this week's regular sentiment poll, you can click here. Question: Will the market close higher, lower or flat next week?
Bearish sentiment is growing in the American Association of Individual Investors (AAII). Typically if sentiment gets too bearish, that's actually bullish. I've annotated a few other times we've seen similar ratios.
Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook and Email. Today Greg and Erin didn't have a lot of time to answer questions, but they did answer a few. Greg explained how you can "drill down" to find stocks in industry groups and sectors. Using the new Members dashboard, click on "Sector Summary". If you click on a sector, it will bring up the different industry groups within and a click on those will get you the list of stocks within that industry group. Erin discussed how to personalize your CandleGlance and Gallery views. It's as easy as naming your ChartStyles. Set up the intraday look you want and save the chart style as "GalleryIntraday", for daily "GalleryDaily" and for monthly "GalleryMonthly". To update your CandleGlance style, save it as "CandleGlance". And don't worry, if you want the defaults back...just delete those ChartStyles and you're back to where you were.
It's a Wrap! Thank you so much to Greg for filling in for Tom today!
Looking Forward:
Tune in on Monday at 12:00p - 1:30p EST on 5/22 for Monday Set-Ups and see the results of the weekly sentiment polls. 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!!
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