MarketWatchers LIVE

7/21 - MarketWatchers Recap - Greg Schnell Co-Hosts - Commodities - Sentiment Report

Erin Swenlin

Erin Swenlin

Co-Founder, DecisionPoint.com

 

Welcome to the recap of Friday's MarketWatchers LIVE show, your antidote for the CNBC 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.

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 (#mktwatchers), Email is marketwatchers@stockcharts.com and our Facebook page is up and running so "like" it at MarketWatchers LIVE.


What Happened Today?

 

Commodities Countdown: Greg Schnell joined as co-host today with Erin so it was only natural to have him review some of his favorite commodities charts. He referenced Julius DeKempanear's recent blog article about rotation and the strength of Materials industry group right now. Greg then followed up with a discussion of the Dollar and Gold; in particular, he talked about the RSI overbought/oversold readings and how they have had some predictive characteristics.

 

StockCharts New Tools & Twitter: Greg took some time to show everyone how to use the various new ChartList views and how to organize list members using the summary and edit views, among others. For more information on these new tools, you can read this article from the Help Center. There will be more updates and documentation coming as we progress! Additionally, Erin went through how to create a Twitter account and how to find @mktwatcherslive as well as how to "tweet" questions to the show. We will be moving to a new software platform that will not have a "question box" like GoToWebinar does, so you'll need to get up and running on Twitter if you want to get the symbol requests and questions in. For more information on how to create a Twitter account and use it, just go to their website and click "create account" (Twitter.com

 

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. Symbols reviewed today:  CLF, DAL, IDSA, KSS, KTOS, STLD, TRP, VRTX and HD.  You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.

 

Sentiment Update: On Friday's Erin reviews the latest sentiment numbers. Of particular interest was the Rydex Ratio chart showing money flowing out of bear and money market funds and into bull funds. Yet, the big money managers (National Association of Active Investment Managers (NAAIM)) are pulling back exposure to the market. When investors get too bullish and the big guys starting pulling away, that is bearish.

Mailbag Segment: Each show we answer questions received via Twitter, Facebook and Email. Today Erin reviewed how she saves her own CandleGlance style. Here is an article she wrote on this subject. Greg spent time showing the difference between performance charts and other types of charts. He also reminded everyone that if you see a legend on the left side of a chart, that means the scaling is different. His example was using Amazon, a nearly $1000/share stock and Walmart which hovers in the $80 range. While you can chart both prices on the same chart, the crossovers are not valid because they are on a different scale.  

 

It's a Wrap! In closing Erin discussed the Twitter viewer poll from Monday to see if viewers (and Tom and Erin) were correct on the market close for the week. The majority of viewers felt the market would finish higher for the week and they were correct with the SPX closing higher, 0.54% for the week. Tom and Erin both were bearish this last week. Look for the weekly sentiment poll at @mktwatcherslive. This week, Greg and Erin are in disagreement. Erin believes the market will finish lower next week, while Greg believes the market will finish higher next week. 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 7/24 for Erin's last show until 8/21! Tom and Erin will look at Monday Set-Ups and 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!!

** Erin will be traveling 7/25 - 8/20. Congratulations on the upcoming marriage and honeymoon! She'll return on 8/21 as Erin "Wood" **

 

 

 

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