{"id":17340,"date":"2022-03-08T06:48:00","date_gmt":"2022-03-08T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=17340"},"modified":"2023-02-14T02:52:21","modified_gmt":"2023-02-14T07:52:21","slug":"swing-trading-stocks-030822","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-030822\/","title":{"rendered":"The Wagner Daily &#8211; Short side trading update and watchlist"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220308TPX.png\" alt=\"$TPX daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; March 8, 2022<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211;&nbsp; SELL<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" title=\"\"><br \/><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220308open.png\" alt=\"$open positions\" title=\"\"><\/figure>\n\n\n\n<p><strong><em>closed positions:<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220308closed.png\" alt=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Per intraday alert, covered half of $AMC.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Monday proved to be another wild ride in stocks, as the Nasdaq 100 futures contract recovered from a -2% selloff overnight and opened slightly higher than Friday&#8217;s 4 pm close. However, the pre-market rally stalled on the open and reversed lower, giving back the entire 2% bounce by 11:00 EST.<\/p>\n\n\n\n<p>$QQQ sliced through support and closed -3.7% lower.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220308QQQ.png\" alt=\"$Naz 100 daily \" title=\"\"><\/figure>\n\n\n\n<p>S&amp;P 500 closed at -3% but did not slice through support like $QQQ.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220308SPX.png\" alt=\"$S&amp;P 500 futs daily \" title=\"\"><\/figure>\n\n\n\n<p>Per intraday alert, covered half of $AMC for an 8% gain and will likely cover the rest on further weakness. We are still short $QQQ through the inverse $PSQ and will also look to cover into weakness.<\/p>\n\n\n\n<p>Our nightly scan work failed to produce actionable setups on the short side, which isn&#8217;t much of a surprise after the past few days of selling.<\/p>\n\n\n\n<p>For those who are trying to learn the short side, continue to monitor short setups on the unofficial watchlist. For example, $TPX was on the list last week due to the tight-ranged session at the prior high and declining 8-day EMA. We also posted a few setups in last night&#8217;s report.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220308TPX.png\" alt=\"$TPX daily \" title=\"\"><\/figure>\n\n\n\n<p>Our short-term plan is to manage existing short exposure by taking profits into weakness. There are no new official setups for Tuesday.<\/p>\n\n\n\n<p>Keys to market turning bullish:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Buy signal in the timing model through a FTD or reclaim of 21-day EMA<\/li>\n\n\n\n<li>Stocks begin to breakout on volume and hold&#8230; indexes hold the 21-day EMA<\/li>\n\n\n\n<li>Number of stocks making new 52-week highs vs 52-week lows enters into positive territory<\/li>\n\n\n\n<li>After the first wave of breakouts, new setups emerge<\/li>\n<\/ul>\n\n\n\n<p><strong>Unofficial Setups<\/strong> &#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;Longs &#8211; (none for now)<\/li>\n\n\n\n<li>\u00a0Shorts &#8211; maybe $INTC $RIOT $LCID (below prior day&#8217;s low) not ideal shorts at this time<\/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\n\n\n\n<p>This list is a good starting point for monitoring the health of the market for those who have limited time.<\/p>\n\n\n\n<p><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\">https:\/\/morpheustrading.com\/services\/swing-trade-alerts<\/a><\/p>\n\n\n\n\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>Per intraday alert, covered half of $AMC for an 8% gain and will likely cover the rest on further weakness. We are still short $QQQ through the inverse $PSQ and will also look to cover into weakness.<\/p>\n<p>Our nightly scan work failed to produce actionable setups on the short side, which isn&#8217;t much of a surprise after the past few days of selling.<\/p>\n<p>For those who are trying to learn the short side, continue to monitor short setups on the unofficial watchlist. For example, $TPX was on the list last week due to the tight-ranged session at the prior high and declining 8-day EMA. We also posted a few setups in last night&#8217;s report.<\/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-17340","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\/17340","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=17340"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17340\/revisions"}],"predecessor-version":[{"id":17344,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17340\/revisions\/17344"}],"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=17340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}