{"id":16316,"date":"2022-10-07T06:48:00","date_gmt":"2022-10-07T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16316"},"modified":"2023-02-17T00:32:19","modified_gmt":"2023-02-17T05:32:19","slug":"swing-trading-stocks-100722","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-100722\/","title":{"rendered":"The Wagner Daily &#8211; $LPLA: Breakout Working but More Needed"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221007LPLA.png\" alt=\"LPLA daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; October 7, 2022<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211;&nbsp; SELL&nbsp;&nbsp;<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a><strong><em>today&#8217;s watchlist along with open and closed positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$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>Canceled the $PCTY buy limit and $SWAV buy stop.<\/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>Broad market averages fought off a sharp morning selloff for the second day in a row ahead of Friday&#8217;s big non-farm payroll report. Whether or not stocks push higher or lower from here will depend on the report. The Fed is looking for signs of a slowdown in the labor market and inflation before making any changes to current policy.<\/p>\n\n\n\n<p>The daily charts of the S&amp;P 500 and Nasdaq Composite have yet to produce a follow-through day ( 1.5% gain on higher volume on day 4 or later of a new rally ) or close above the 21-day EMA by more than 1%, so we are still waiting for a buy signal to put money to work.<\/p>\n\n\n\n<p>There are no new official setups for Friday, but we are monitoring $SWAV for an entry over Thursday&#8217;s open if there is a higher open.<\/p>\n\n\n\n<p>Please note that the $PCTY buy-limit and $SWAV buy-stop orders have been canceled. If we decide to enter $SWAV we will send an intraday alert.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221007SWAV.png\" alt=\"$SWAV daily \" title=\"\"><\/figure>\n\n\n\n<p>As mentioned above, the $PCTY buy-limit order was canceled as the price pushed higher without pulling back. We will look to enter at the first touch of the 8-day EMA for partial size IF conditions continue to improve.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221007PCTY.png\" alt=\"$PCTY daily \" title=\"\"><\/figure>\n\n\n\n<p>$LPLA breakout is working, a positive sign, but we need to see more action like this.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221007LPLA.png\" alt=\"LPLA daily \" title=\"\"><\/figure>\n\n\n\n<p>Other stocks we are watching: $WSC $PI $ANET $PGNY $ON $WOLF $TTD $FOUR<\/p>\n\n\n\n<p><strong>How We Handle A New Buy Signal Through Progressive Exposure&nbsp;<\/strong><\/p>\n\n\n\n<p>If our timing model generates a buy signal, we then look to enter 2-4 longs with partial size and see how they respond. If these trades gain ground and market conditions improve, we will look to add new exposure.<\/p>\n\n\n\n<p><strong>Unofficial Setups<\/strong>&nbsp;&#8211;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Longs &#8211; $SWAV $PCTY $PGNY<\/li>\n\n\n\n<li>Shorts &#8211;&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>See you in the chat room,<\/p>\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$LPLA breakout is working, a positive sign, but we need to see more action like this.<\/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-16316","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\/16316","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=16316"}],"version-history":[{"count":2,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16316\/revisions"}],"predecessor-version":[{"id":17694,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16316\/revisions\/17694"}],"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=16316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}