{"id":18324,"date":"2021-08-23T06:48:00","date_gmt":"2021-08-23T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18324"},"modified":"2023-02-21T23:20:35","modified_gmt":"2023-02-22T04:20:35","slug":"swing-trading-stocks-082321","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-082321\/","title":{"rendered":"The Wagner Daily &#8211; S&amp;P Back in Trend Mode"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823SPY.png\" alt=\"$SPYdaily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; August 23, 2021<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211; buy mode (but cautious)&nbsp;<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a id=\"watchlist\"><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823watch.png\" title=\"\"><br \/><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823open.png\" alt=\"$open positions\" title=\"\"><\/figure>\n\n\n\n<p><strong><em>closed positions:<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2020\/closed.png\" alt=\"$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, bought $DDOG.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a id=\"etf\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Late last week, we discussed the potential for a change in character in the S&amp;P 500 if it did not reclaim the 20-day EMA within a few days of Wednesday&#8217;s break. Right on cue, Friday&#8217;s recovery put the S&amp;P 500 back above the 20 and 10-day EMAs, and the S&amp;P back in trend mode.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823SPY.png\" alt=\"$SPYdaily\" title=\"\"><\/figure>\n\n\n\n<p>SP-500 weekly closed with a bearish hanging man candle that must be confirmed by further weakness.&nbsp; A hanging man candle suggests the uptrend may be losing steam as the price sold off intraday\/week to create a long wick. Though the price did recover by the close, bears may soon gain control.&nbsp; Again, must be confirmed by weakness, and is best used is trends that are extended.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823SPX.png\" alt=\"$SPX WEEKLY\" title=\"\"><\/figure>\n\n\n\n<p>The Nasdaq Composite reclaimed its 20-day EMA, but unlike the S&amp;P 500 which has set higher highs for several weeks in a row, the Nasdaq has been range-bound since mid-July.<\/p>\n\n\n\n<p>Still holding the 10-week MA on the weekly chart.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823NAZ.png\" alt=\"$Nasdaq weekly\" title=\"\"><\/figure>\n\n\n\n<p>With the Nasdaq in chop mode for several weeks, the index may be setting up for a move higher down the road. Most charts are acting well but lack explosive price action after clearing resistance. That could change once the Nasdaq gets going.<\/p>\n\n\n\n<p>The model portfolio added one new position in $DDOG last Friday per intraday alert. $DDOG was purchased based on the price recovering back above the 10ema after undercutting lows and the moving average on the open.<\/p>\n\n\n\n<p>Our entry was over Friday morning&#8217;s high which didn&#8217;t see much follow-through. A break of Friday&#8217;s low minus some wiggle room is our stop.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823DDOG.png\" alt=\"$$ddog DAILY \" title=\"\"><\/figure>\n\n\n\n<p>Overall, market conditions remain difficult for our style of trading as only a handful of stocks are leading the market higher while most have been range-bound.&nbsp;<\/p>\n\n\n\n<p>There is one new official setup for Monday. $AMD is in play over last Thursday&#8217;s high following Friday&#8217;s tight ranged inside day below the 10-day EMA. We feel a bit more comfortable buying after a pullback in this environment as breakouts have struggled.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823AMD.png\" alt=\"$AMD DAILY \" title=\"\"><\/figure>\n\n\n\n<p>Other stocks in play (these setups are not official):<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823DLO.png\" alt=\"$DLO DAILY \" title=\"\"><\/figure>\n\n\n\n<p>A touch of the 10-day EMA is often a low-risk spot to enter in a strong uptrend.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823UPST.png\" alt=\"$UPST DAILY \" title=\"\"><\/figure>\n\n\n\n<p>$DOCS may be tricky to play if Monday is a higher open. As always, try to avoid being triggered on a buy stop during the first few minutes of trading.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210823DOCS.png\" alt=\"$DOCS DAILY \" title=\"\"><\/figure>\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>$GLBE &#8211;&nbsp; buy at 72.89 (pullback in a strong uptrend)<\/li>\n\n\n\n<li>$MELI &#8211; buy at 1,805.00 (pullback)<\/li>\n\n\n\n<li>$DOCS &#8211; buy over Friday&#8217;s high<\/li>\n\n\n\n<li>$UPST &#8211; buy at 185.00 (partial size on a test of 10ema)<\/li>\n<\/ul>\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>Late last week, we discussed the potential for a change in character in the S&#038;P 500 if it did not reclaim the 20-day EMA within a few days of Wednesday&#8217;s break. Right on cue, Friday&#8217;s recovery put the S&#038;P 500 back above the 20 and 10-day EMAs, and the S&#038;P back in trend mode.<\/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-18324","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\/18324","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=18324"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18324\/revisions"}],"predecessor-version":[{"id":18328,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18324\/revisions\/18328"}],"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=18324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}