MarketWatchers LIVE

7/5 MarketWatchers LIVE Recap - Talking Technically - Market Movers - Candlesticks

Erin Swenlin

Erin Swenlin

Co-Founder, DecisionPoint.com

 

Welcome to the recap of Wednesday'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 here's 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 so "like" it at MarketWatchers LIVE.


What Happened Today?

Talking Technically:

Every Wednesday, Tom and Erin start the show off with important earnings announcements, economic news and developing news in the major markets. Today they continued to discuss bifurcation of markets, today's flood of money into technology, defense stocks turned darlings after geo-political instability with North Korea and the loss of Tesla (TSLA) from the top ten SCTR rankings. Be sure to read Tom's blog today where he discusses much of this. Below is Erin's chart of Tesla. Tom and Erin agreed that it is testing very important support and could be ready to turn around already if that support holds.

 

Market Movers: Today Tom and Erin discussed a great number of stocks that were topping the most active, SCTR movers, and big price changes. Below are a few that Erin annotated with Tom. ORLY was down during show time, but not this far. Support is very near, but neither Tom nor Erin would try to catch this falling knife or hatchet as Erin suggested on this one.

EW is near overhead resistance. Although the PMO isn't looking great right now, the SCTR is holding in the hot zone above 75.

 

Agree or Disagree? While this segment wasn't actually in today's show, Tom and Erin talked about Johnson and Johnson (JNJ) and were somewhat in disagreement over whether this was a bullish or bearish chart. Tom was feeling bullish, but Erin didn't like the indicator configuration on her chart and the possible bearish reverse flag. Erin posts the Agree or Disagree polls on Twitter to find out what you think. The current Twitter polls are here. What do you think?

 

Ten in Ten Before One: In this regular segment, Tom reviews ten charts in ten minutes with Erin's comments peppered in there. Send in your symbol requests with comment via Twitter (@mktwatcherslive) before the show and you could see it analyzed. If we missed them this show, we have many of them in the queue for Friday. Erin and Tom both looked at PEP, DOV, ADSK, MIC, ABB, BB.TO, NKE, PYPL, SNCR and SCHW. All of these charts are found in the MarketWatchers LIVE ChartList. The link is at the top of the MarketWatchers LIVE main blog page.

 

Candlestick Analysis: Tom took time out today to go over some of the basics of candlestick charting. Everything he discussed (and much more) can be found in ChartSchool. The candlestick introduction documentation is here. However, a search of ChartSchool will show that there are more advanced articles available as well.

 

Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook and Email. The first question was for Tom. He was asked where he gets his information for earnings and economic reports. For earnings, he uses Zacks.com and to get economic news/reports, he uses Bloomberg.com and selects under the "Markets" tab, "economic calendar". You can also find earnings information here too by selecting earnings calendar under "Markets" tab. Bookmark them!

 

It's a Wrap! 

Looking Forward:

Tune in on Friday at 12:00p - 1:30p EST on 7/5 for our viewer-centric program. More Ten in Ten to One, Sentiment and Mailbag questions!

 

 

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