{"id":16182,"date":"2022-11-05T06:48:00","date_gmt":"2022-11-05T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16182"},"modified":"2023-02-03T07:01:50","modified_gmt":"2023-02-03T12:01:50","slug":"swing-trading-stocks-110522","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-110522\/","title":{"rendered":"The Wagner Daily &#8211; $SMCI: Monitoring for Pullback, Not an Official Setup"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221107SMCI.png\" alt=\"$PI daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; November 5, 2022<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211;&nbsp; BUY&nbsp;&nbsp;(from 10\/21\/22 follow-through day buy signal)<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a><strong><em>today&#8217;s watchlist along with open and closed positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221107watch.png\" title=\"\">&nbsp;<br \/><br \/><a><strong><em>position notes:<\/em><\/strong><\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No trades triggered.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>S&amp;P 500 and Nasdaq 100 futures are trading roughly 1\/2 of 1% higher this morning, but still within last Friday&#8217;s range.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Our timing model remains on a buy signal based on the price and volume action of the&nbsp;strongest broad-based index, which is the S&amp;P 500.&nbsp;The S&amp;P 500 is still trading above the follow-through day low and could reclaim the 20-day EMA.&nbsp; However, last Wednesday&#8217;s wide-ranged candle that&nbsp;sliced through the 50 and 20-day MAs may be tough to overcome in the short term without more chop.&nbsp; There is also resistance from the declining 50-day MA.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221107SPX.png\" alt=\"$s&amp;p 500 daily\" title=\"\"><\/figure>\n\n\n\n<p>The Nasdaq Composite is on a sell signal after taking out the 20-day ema and low of the follow-through day.&nbsp; &nbsp;There is resistance from the declining 20-day ema and lower low around 10,800.&nbsp; &nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221107COMP.png\" alt=\"$Nasdaq Comp daily \" title=\"\"><\/figure>\n\n\n\n<p>Energy has been the only true source of leadership the past few weeks and may be running into some resistance with $XLE approaching the prior high after an extended run off the lows with very little pause.&nbsp;<\/p>\n\n\n\n<p>Aside from energy, there has been some strength in the financial and healthcare sectors, especially with bigger cap names such as $AMGN, $GILD, and $BIIB.&nbsp; $BIIB is one to watch for a pullback entry off the 20-day EMA (if it pulls back in).&nbsp;<\/p>\n\n\n\n<p>The model portfolio remains long a 1\/4 position in $PI, which bounced off support of the 8-day EMA.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221107PI.png\" alt=\"$PI daily \" title=\"\"><\/figure>\n\n\n\n<p>$SMCI is another name we are monitoring for a pullback entry off the 8-day EMA. This is not an official setup. We will send out an intraday alert if any action is taken.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221107SMCI.png\" alt=\"$PI daily \" title=\"\"><\/figure>\n\n\n\n<p>In last Friday&#8217;s report, we mentioned $ENPH as a possible buy if it can hold the 8-day EMA. Last Friday&#8217;s selling ruined that setup for the most part, but the price could still bounce back. Just watching the action for now.<\/p>\n\n\n\n<p>We have a split market right now with the Nasdaq in trouble and the S&amp;P 500 in danger of triggering a sell-signal&#8230;but still holding up.&nbsp; Very tough market to operate in.&nbsp; Keep position size small if taking on long exposure&nbsp;and be patient for lower-risk entries near support.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>Unofficial Watchlist<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Longs &#8211; $SLB&nbsp; $PI $WING $SMCI&nbsp;(pullback 8ema)&nbsp; $BIIB $TMDX (pullback 8ema)<\/li>\n\n\n\n<li>Shorts &#8211; (none)<\/li>\n<\/ul>\n\n\n\n \n\n\n\n\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$SMCI is another name we are monitoring for a pullback entry off the 8-day EMA. This is not an official setup. We will send out an intraday alert if any action is taken.<\/p>\n","protected":false},"author":2,"featured_media":12060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[782],"tags":[],"class_list":["post-16182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wagner-daily-archives"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16182","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=16182"}],"version-history":[{"count":2,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16182\/revisions"}],"predecessor-version":[{"id":16188,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16182\/revisions\/16188"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media\/12060"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=16182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}