MarketWatchers LIVE

10/27 MarketWatchers LIVE Recap - EarningsBeats - Sentiment Update

Erin Swenlin

Erin Swenlin

Co-Founder, DecisionPoint.com

 

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 market updates and symbols that are hot.

Information abounds in our Monday/Wednesday/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. Remember! You can now watch the latest episode under the "Webinars" tab!

Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE and/or #mktwatchers, email is marketwatchers@stockcharts.com and our Facebook page is up and running so "like" it at MarketWatchers LIVE. You'll find archives of our most recent shows! Don't forget to sign up for notifications at the end of this blog entry by filling in your email address. 


​Announcements:

This Wednesday (11/1) Professor Bruce Fraser from Golden Gate University will be joining us!

This Friday (11/3) Our very own Tom Bowley will discuss reversing candlesticks and how he uses them to trade!

** Our shows are now archived on Facebook. Go like our page and have access to our most recent shows (Gap trading, DP PMO Workshop, Julius on RRGs, and more!) **

 

What Happened Today?

 

Talking Technically: On Friday Tom and Erin focus on interesting earnings news, upgrades/downgrades, etc. Jobless claims came in just under expectations, 233,000 v. 235,000. September pending homes sales was flat. Q3 GDP 3% from 2.5%. Consumer sentiment for October, came in 100.7 v. 101 slightly under expectations. The Dollar has executed a reverse head and shoulders and is poised to rally much higher which could weigh down Gold:

Upgrades: SGEN, IMAX, IBM and Downgrades: TSLA and USG.

 

EarningsBeats.com - John Hopkins: The spotlight for today was SYNT. John's comments to subscribers:

"We added SYNT to the Watch List this morning at an initial entry price of $22.81 with a second entry on any pullback to $22.05 and a stop loss of any CLOSE below its 20 day moving average."

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. Symbols reviewed today: OXY, XES, IRBT, V, SCY.TO, IMMU, WDC, YNDX, MDT, FDX, F, KSS, SIRI, EXAS, and CELG.  You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.

 

Sentiment Update: Erin reviewed her regular sentiment charts and noted that in general sentiment on the charts is simply not bullish enough to signal a correction, but not really bearish enough to fuel a big rally. The most interesting chart was the Rydex Asset Ratio chart which shows quite a bit of money is moving out of cash and into equities:

 

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. Tom was neutral and Erin was bullish. The majority of viewers felt the market would finish higher for the week and they (and Erin) were incorrect with the SPX closing up only 0.23% for the week which we classify as mostly unchanged (Tom wins!). Look for our weekly sentiment polls at @mktwatcherslive on Twitter. This week, Tom and Erin are in disagreement. Erin believes the market will finish mostly unchanged next week, while Tom believes it will close up. 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 10/30 for Monday Set-Ups and some BIG ANNOUNCEMENTS!! You will not want to miss it!

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 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