{"id":16288,"date":"2022-10-13T06:48:00","date_gmt":"2022-10-13T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16288"},"modified":"2023-02-17T00:30:38","modified_gmt":"2023-02-17T05:30:38","slug":"swing-trading-stocks-101322","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-101322\/","title":{"rendered":"The Wagner Daily &#8211; $FSLR: Potential Leader or Weakness Ahead?"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221013ALB.png\" alt=\"$ALB daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; October 13, 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; SELL&nbsp;&nbsp;<\/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=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220926list.png\" title=\"\">&nbsp;<br \/><br \/><a><strong><em>position notes:<\/em><\/strong><\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No trades triggered.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Wednesday&#8217;s trading session was among the tightest in recent months after Tuesday&#8217;s turbulence, with most major market averages&nbsp;forming an NR7 and inside day (see chart below for an explanation of these terms).&nbsp;&nbsp;<\/p>\n\n\n\n<p>The tight trading range is ahead of Thursday morning&#8217;s CPI report on inflation at 8:30 am, which has the potential to create some pre-market volatility (could see a gap in either direction).&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221013SPX.png\" alt=\"$SP 500 DAILY \" title=\"\"><\/figure>\n\n\n\n<p>One of the fundamental principles of price action is that <strong>a price contraction eventually leads to price expansion<\/strong>, typically in the direction of the following move.&nbsp; &nbsp;A break of Wednesday&#8217;s low could lead to a resumption of the current downtrend.&nbsp; A move through Wednesday&#8217;s high could spark a short-term bounce as the S&amp;P 500 is a bit stretched from its 20-day EMA.&nbsp;<\/p>\n\n\n\n<p>A short-term bounce into resistance would be ideal for producing classic swing trade setups on the short side.&nbsp; Without a bounce, the only setups we see that may be in play are in leading stocks that breach the 50-day MA.&nbsp;&nbsp;<\/p>\n\n\n\n<p>$FSLR is a potential leader that could see a sharp selloff if it loses the 50-day MA.&nbsp; This sort of setup is ideal in a weak market when a leading stock that has shown relative strength finally cracks.&nbsp; $ALB is a good example of this, which we discussed as a short setup earlier this week.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221013ALB.png\" alt=\"$ALB daily \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221013FSLR.png\" alt=\"$FSLR daily \" title=\"\"><\/figure>\n\n\n\n<p>This market remains one that is best played with a heavy cash position. There isn&#8217;t much to do on the long side as the reward-to-risk ratios are terrible right now.&nbsp; s mentioned above, a short term bounce would be ideal for classic swing trade entries on the short side.&nbsp;<\/p>\n\n\n\n<p>We never know when the market will bottom, which is why it&#8217;s important to keep an updated watchlist of leadership so that we are ready to move if\/when conditions turn bullish.<\/p>\n\n\n\n<p>&nbsp;<strong>Unofficial Setups<\/strong>&nbsp;&#8211;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Longs &#8211; none (waiting for a clear buy signal)<\/li>\n\n\n\n<li>Shorts &#8211; $FSLR (not official)&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>See you in the chat room,<\/p>\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$FSLR is a potential leader that could see a sharp selloff if it loses the 50-day MA.\u00a0 This sort of setup is ideal in a weak market when a leading stock that has shown relative strength finally cracks.\u00a0 $ALB is a good example of this, which we discussed as a short setup earlier this week.<\/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-16288","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\/16288","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=16288"}],"version-history":[{"count":2,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16288\/revisions"}],"predecessor-version":[{"id":17688,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16288\/revisions\/17688"}],"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=16288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}