{"id":12552,"date":"2022-05-20T08:50:00","date_gmt":"2022-05-20T12:50:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=12552"},"modified":"2022-05-21T15:39:59","modified_gmt":"2022-05-21T19:39:59","slug":"mmm-stocks-05-20-22","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/mmm-stocks-05-20-22\/","title":{"rendered":"[stocks] Market Minutes &#8211; Low-Risk Buy Setup in $AFRM"},"content":{"rendered":"\n<p>Below is a past issue of <em><a href=\"https:\/\/4966a6ff.sibforms.com\/serve\/MUIEADK82b8TMyFqTxWMxoOresxe5KKgeYdQbAXrw8CMCqKgCSZR1H4hKCFkWIjN69d7pTSIg9YVEWE97dfeWpP4cmxMb5J268rFVOaUPbCifmmR2nB2U_C4p08hYLxBwP9U5FMLWVKWAL8-xiBtNjX2O8x43ksv45N0RObCZDoTzEgEHmLPCK2e5oXi63MmsGU-sowrNJfP_wN-\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Market Minutes<\/a><\/em>, your free daily market analysis and top picks for swing trading stocks and crypto.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">May 20, 2022<\/h3>\n\n\n\n<p>Nasdaq 100 futures are trading higher this morning, bouncing off support of the prior low. &nbsp;<\/p>\n\n\n\n<p>In the short-term, the Nasdaq could see a tradeable bounce before running into resistance of the prior swing high, downtrend line, and 20-day exponential moving average:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/img.mailinblue.com\/4528503\/images\/content_library\/original\/628787dfd76d544ad75fe3a4.png\" alt=\"Nasdaq 100\" width=\"718\" height=\"538\" title=\"\"><\/figure>\n\n\n\n<p>New short setups are&nbsp;<em>not<\/em>&nbsp;ideal here, with the Nasdaq and S&amp;P 500 holding the prior swing low. &nbsp;<\/p>\n\n\n\n<p>If the bounce continues higher in the near-term, then we will look to short individual names or go long $SQQQ (inverse ETF) closer to the 20-day EMA in the Nasdaq 100.<\/p>\n\n\n\n<p>The potential for a short-term bounce creates an&nbsp;<em>opportunity for aggressive traders to add some long exposure for a quick pop.<\/em>&nbsp;&nbsp;<\/p>\n\n\n\n<p>Investors\/intermediate-term traders should stay away from the long side until there is more evidence of a market bottom, which would include the S&amp;P 500 or Nasdaq Composite reclaiming the 20-day EMA.<\/p>\n\n\n\n<p>In the&nbsp;<a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts?utm_source=sendinblue&amp;utm_campaign=MMM%20-%20stocks%20-%20May%2020%202022&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Wagner Daily<\/em><\/a>&nbsp;stock portfolio, we alerted members that we were buying $AFRM yesterday for a short-term swing.<\/p>\n\n\n\n<p>$AFRM punched back through the breakout pivot after moving out above a tight consolidation:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/img.mailinblue.com\/4528503\/images\/content_library\/original\/62878c4c40cf5a38f771a6f4.png\" alt=\"$AFRM\" width=\"714\" height=\"538\" title=\"\"><\/figure>\n\n\n\n<p>We like the short-term relative strength in $AFRM, with its relative strength line moving higher while the price has been mostly sideways.<\/p>\n\n\n\n<p>The RS line is moving ahead of the price, which is bullish. &nbsp;&nbsp;<\/p>\n\n\n\n<p>The current trade plan is to play for a quick pop and sell into strength, as market conditions are not yet ideal for intermediate-term swings.<\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">SIGN UP NOW<\/a> <\/strong>to receive trade alerts with our exact entry and stop prices, portfolio access, and complete market analysis.&nbsp;Wagner Daily PRO&nbsp;also provides you with access to your live Swing Trader Chat. I<strong>f you enjoy this free service, please share with a friend.<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the\u00a0Wagner Daily\u00a0stock portfolio, we alerted members that we were buying $AFRM yesterday for a short-term swing..<\/p>\n<p>$AFRM punched back through the breakout pivot after moving out above a tight consolidation:<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[788],"tags":[],"class_list":["post-12552","post","type-post","status-publish","format-standard","hentry","category-market-minutes-stocks"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/12552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=12552"}],"version-history":[{"count":2,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/12552\/revisions"}],"predecessor-version":[{"id":12564,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/12552\/revisions\/12564"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=12552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=12552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=12552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}