MarketWatchers LIVE

4/16 MWL: "My Favorite Scans" with Erin Swenlin - Under the Radar

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Welcome to the recap of today's MarketWatchers LIVE show, your antidote for the CNBC/FBN lunchtime talking heads.

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What Happened Today?

 

Technical News:

 

"My Favorite Scans (and How to Use Them) (0:22:25):

Below is the scan code for all of Erin's "Favorite Scans":


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]

 


FOCUSED PMO SCAN:

// The "universe" you are scanning:

[group is CyclicalsSector]

OR [group is CommunicationServicesSector]

 

AND [Daily SMA(20,Daily Volume) > 100000]

 

// PMO has not yet had a crossover:

AND[today's PMO Line(35,20,10)<today's PMO Signal(35,20,10)]

 

// PMO Rising for last 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)]

 

// Positive Line-up of EMAs 20-EMA > 50-EMA > 200-EMA (Implies Stock is in an IT or LT Bull market:

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

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

 

 

BULLISH EMAs - MID-RANGE SCTR:

 

[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]

 

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)]

 

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

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

 

AND [SCTR < 80]

AND [SCTR > 70]

 


CHART BREAKOUTS:

 

[[type = stock] 

AND [country is US]

 

// Stock has decent volume and today's high is greater than 52-wk high

 

AND [Daily SMA(20,Daily Volume) > 80000] 

AND [Daily High > Yesterday's Daily MAX(253,Daily High)]

 

// No PMO positive crossover and rising today

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)]

 


MOMENTUM SLEEPERS:

 

// 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]

 

// Fast PMO crossover below zero line

AND [Daily PMO Line(12,26,9,Daily Close) < 0] 

AND [Daily PMO Line(12,26,9,Daily Close) >= Daily PMO Signal(12,26,9,Daily Close)] 

 

// Fast PMO rising for 3 days

AND [Yesterday's Daily PMO Line(12,26,9,Daily Close) < Yesterday's Daily PMO Signal(12,26,9,Daily Close)] 

AND [2 days ago Daily PMO Line(12,26,9,Daily Close) < 2 days ago Daily PMO Signal(12,26,9,Daily Close)] 

AND [3 days ago Daily PMO Line(12,26,9,Daily Close) < 3 days ago Daily PMO Signal(12,26,9,Daily Close)]

 


TURNING POINT SCAN:

 

// 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)]

 


UNDER THE RADAR:

 

// Narrows down the universe to US stocks with decent volume and a close above $10

 

[type = stock] AND [Daily SMA(20,Daily Volume) > 100000]

AND [country is US]

AND [Close > 10]

 

// This identifies a PMO rising

 

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)] 

 

 

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

 

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

 

//Unusually high volume

 

AND [Daily Volume > Yesterday's Daily SMA(20,Daily Volume) * 4] 

AND [Daily Close > Yesterday's Daily Close]

 


BOTTOM FISHING:

 

// 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 PMO below zero

AND[today's PMO Line(35,20,10) < today's PMO Signal(35,20,10)]

AND[today's PMO Line(35,20,10) < 0]

 

// 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)]

 

//Trend Model Configuration with only ST Trend Model on BUY

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

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

AND [today's ema(5,close) > today's ema(20,close)]

 

//This identifies stocks with SCTRs less 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]

 

// Currently on PMO BUY Signal and has been falling for 2 days

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)] 

 

// Bearish EMA Configuration 20-EMA < 50-EMA < 200-EMA

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

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

 

// SCTR is NOT in the "hot zone"

and [SCTR <75]


Ten in Ten Before One (0:55:47): 

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.

 

Under the Radar (1:12:50): 

Looking Forward:

Tune in on Wednesday at 12:00p-1:30p EST for guest Tom McClellan.


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

 

 

Announcement from the Author

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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
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