A big thank you to everyone who listened in on Fridays webinar. Hopefully you didn't find the charts too long-term without Tom Bowley. Erin Wood and Tom Bowley will be back on the Monday Market Watchers Live show.
Here is a link to the RECORDING! Yes, these are recorded now!
In this particular show, I started reviewing the Market using my breadth indicators, jumping into Point and Figure (PnF) charts for the second segment and then spending some time on the Alerts about 1:15.
There were multiple requests for the $NYAD chart to be posted, so click on the chart below and you can save it. This chart is explained thoroughly in the webinar. The coverage of market breadth begins at 12:00. The Webinar recording explains how to save charts complete with annotations.
This is the McClellan Summation Index, $NYSI. Moves below 400, usually start a correction.
For the NASDAQ Summation Index ($NASI), the levels are different, but the concept is still the same.
Here are the ten in ten charts.
Home Depot:
Apache (APA) needs to stop dropping at $35.
Clean Energy Futures (CLNE)
Lastly, the weekly Full Stochastics scan. You can copy and paste this into the advanced scan workbench. I would encourage you to watch the last segment on the video around 1:20.
[country is US] and [type is stock]
and [sma(20,volume) > 400000]
and [weekly Full Stoch %K(14,3,3) x 20.0]
Thanks for following Market Watchers Live. If you enjoyed Greg's commentary, you can also find his Commodity Countdown Recording every Thursday. Click 'Follow' on the Vimeo Channel to be notified when there are new updates. Greg also writes a Commodities Countdown blog that is updated weekly and you can click Notify Me at the bottom of any article. You can also find Greg on Twitter @Schnellinvestor.
Lastly, a little reminder about the new webinar tool. There is a survey link on the right-hand-side under How'd We Do and we would encourage your feedback every time. If there is something we covered that you like, great. If there is something that you think we should cover, that is a great place to tell us. You can also connect on the Twitter feed.
Good trading,
Greg Schnell, CMT, MFTA