MarketWatchers LIVE

7/7 - MarketWatchers LIVE Recap - ETF Focus - Agree or Disagree? - Earnings Spotlight

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?

 

Talking Technically: Tom discussed the latest economic reports. Non-farm payrolls were at 220,000, beating the estimate of 170,000. Additionally, private payrolls were at 187,000, somewhat beating the estimate of 165,000. This could account for some of the upside movement so far today. Tom also brought up the $TNX chart. Yields have been rising and that has hit the bond market pretty hard.

 

ETF Focus: Tom and Erin focused on ETFs as part of today's show and took some ETF requests. They looked at EWM, EWP, HACK, FBT and LIT. Despite EWM and EWP being laggards today, Tom pulled up both charts and shows that the charts look bullish.

 

Agree or Disagree? Tom and Erin will take a topic and take a position. We then ask the audience for their input. Today's question was whether the SPX has posted its all-time high for the year? Both agreed that taking such a long-term view makes the question more difficult. Erin is leaning, yes, we've likely seen the top for the year. Tom is in agreement, but both said after September, we could see a resurgence in the market. If we lose too much ground over the rest of the summer, that all-time will not likely be hit. Do agree that the SPX has posted it's all-time high for the year? The real-time gotowebinar poll showed 60% say we will reach new all-time highs before the year is out. To take the Twitter poll, click here.

 

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. 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: SWK, MGM, TWTR, MOBL, DDD, FIZZ, CMG, MKC, BIDU, DK. You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.

 

Earnings Spotlight: Tom discussed Ferro Corp. (FOE). Although it hasn't reported earnings just yet, this is a stock that Tom suggests will see some pre-earnings run up.

 

DecisionPoint Report - Sentiment: What Erin noted in particular about the AAII sentiment chart is the shrinkage of bears AND bulls. More people are uncertain and that generally means consolidation. In fact the AAII Bull/Bear ratio is at .99, meaning that there is an even number of bulls and bears.

As far as NAAIM, money managers are staying exposed, but not as exposed as previous tops. That hints at weakness as money managers are exposed, but not as much as at previous market tops.

For more DecisionPoint analysis, check out the DecisionPoint blog!

 

Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook and Email. They covered quite a few topics. First, the show is not recorded as it is more of a "show" than webinar. However, we are working on technology that will enable show reviews. Patience please. Tom discussed how he finds the economic reports and calendar on bloomberg.com. Here's a direct link. Tom explained how to use the Volume by Price overlay. For more information, click here for the ChartSchool article. Finally, Erin discussed why she likes the SCTR so much. She finds it a great tool to determine relative strength. John Murphy developed it exclusively for StockCharts.com For more information on the SCTR, click here for the ChartSchool article.

 

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. The majority of viewers felt the market would finish lower for the week and they were incorrect with the SPX up .08% for the week. However, those that voted for higher were also somewhat incorrect. It seems those that "won" are those that felt the market would finish pretty much unchanged on the week. Look for our weekly sentiment polls at @mktwatcherslive. Erin believes the market will finish lower next week and will be turning in a "bearish" response to the Wall Street Weekly sentiment poll. What do you think? Click here for the Twitter sentiment poll.

Looking Forward:

Tune in on Monday at 12:00p - 1:30p EST on 7/10 for Monday Set-Ups. Tom and Erin will also take a look at last Monday's prime set-ups and see how they did. Erin will review the latest poll results for Agree or Disagree? and MWL weekly sentiment poll.

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