{"id":8652,"date":"2021-07-15T13:34:47","date_gmt":"2021-07-15T17:34:47","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=8652"},"modified":"2022-04-06T15:04:54","modified_gmt":"2022-04-06T19:04:54","slug":"is-the-nasdaq-starting-to-run-out-of-gas","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/is-the-nasdaq-starting-to-run-out-of-gas\/","title":{"rendered":"Is the Nasdaq Starting to Run Out of Gas?"},"content":{"rendered":"\n
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Press the chart to view full-sized image<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

The Nasdaq 100 Index is still trading near its all-time high, but relative weakness in leading stocks may be hinting at a possible tech correction around the corner. Here’s our simple and quick analysis to help you prepare for the market’s next move.<\/h2>\n\n\n\n

Editor’s Note: The commentary below appeared in the July 15, 2021 issue of The Wagner Daily<\/a> stock trading report. The Watchlist and Model Portfolio section of the report is restricted to paid subscribers.<\/em><\/p>\n\n\n\n

The Nasdaq Composite, Nasdaq 100, and S&P 500 indices remain near their highs, but recent price action “under the hood” may be cause for concern.<\/p>\n\n\n\n

Out of the roughly 120 leadership stocks on our daily watchlist, 41 stocks were down 3% or more yesterday (July 14).<\/p>\n\n\n\n

Leadership has narrowed to just a few big cap tech stocks pushing higher, which is not<\/em> a positive sign for the current rally.<\/p>\n\n\n\n

The daily chart below shows the Nasdaq Composite on top,  and the percentage of stocks trading above their 40-day moving averages on the bottom section: <\/p>\n\n\n\n

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Press the chart to view full-sized image<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

The percentage of stocks trading above their 40-day moving averages (~35%) is near a level that we normally associate with a significant pullback in the market–BUT the Nasdaq is at its high. <\/p>\n\n\n\n

That’s quite a bit of (bearish) divergence<\/em>!<\/p>\n\n\n\n

In the July 14 trading report<\/a>, we tightened stops to reduce risk, and even proactively sold a few stocks ahead of their stops per intraday alert on Wednesday morning.<\/p>\n\n\n\n

Currently, we have closed most of our open positions for a scratch or small loss,\u00a0while locking in a +20% gain on $NVDA.<\/strong><\/p>\n\n\n\n

Our subscribers are always happy that\u00a0The Wagner Daily<\/a><\/em>\u00a0trading strategy continues to protect profits–even if it means sitting on the sidelines for a short period.<\/p>\n\n\n\n

Being prepared and informed on a daily basis is the key to success in a dynamic, volatile market.<\/p>\n\n\n\n

That’s why we constantly provide valuable information, powerful lessons, and timely trade alerts via our flagship daily stock trading report<\/a><\/em>\u00a0and new Wagner Daily PRO<\/em><\/a> service.<\/p>\n\n\n\n

As always, we will promptly notify subscribers of our exact entry, stop, and target prices for the next explosive trade setup we buy.<\/p>\n\n\n\n

Sign up now<\/a><\/strong> to stay one step ahead of the market, protect profits, and receive real time trade alerts!<\/p>\n","protected":false},"excerpt":{"rendered":"

The Nasdaq 100 Index is still trading near its all-time high, but relative weakness in leading stocks may be hinting at a possible tech correction around the corner. Here’s our simple and quick analysis to help you prepare for the market’s next move. Editor’s Note: The commentary below appeared in the July 15, 2021 issue […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[3],"tags":[],"class_list":["post-8652","post","type-post","status-publish","format-standard","hentry","category-stock-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/8652","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=8652"}],"version-history":[{"count":4,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/8652\/revisions"}],"predecessor-version":[{"id":8672,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/8652\/revisions\/8672"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=8652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=8652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=8652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}