MarketWatchers LIVE

7/10 MWL Recap - 2018 Midyear Review - Bottom Feeders

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Welcome to the recap of today'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. The show runs throughout the day on StockCharts TV or you can find the latest episode on the YouTube StockCharts channel here.

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What Happened Today?

 

2018 Midyear Review by Tom Bowley (0:20:55):

 

Ten in Ten Before One (0:52:09): 

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 and we'll try and add them. We'll also check our email for symbol requests before the show (marketwatchers@stockcharts.com). You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.

 

Bottom Feeders (1:09:56): 

Per your request, here's the scan language for each of Tom and Erin's "bottom picking" scans. Note that Erin's below has a few lines "commented out" with "//" in the front. Those can be added back into the scan code by deleting those that are before the code line you want to include or not include.


// 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)]
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)]

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


Tom's Scan:

[type = stock] AND [Daily Volume(50,Daily Volume) > 500000]

AND [group is CyclicalsSector]

AND [SCTR.small < 40]


Looking Forward:

Tune in on Wednesday at 12:00p - 1:30p EST for guest Tushar Chande and the popular 10n10!


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

Tom's 10-Year Treasury Yield v. German 10-Year Treasury Yield Chart

Tom's Consumer Discretionary Sector Relative to Consumer Staples Sector

 

 

Erin Swenlin
About the author: helped create and manage the DecisionPoint.com website alongside her father, Carl Swenlin. Together, Erin and Carl launched the DecisionPoint daily blog in 2009. She hosts the MarketWatchers LIVE web show at StockCharts.com, and is also a Member of the CMT Association. Learn More
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