After several years of testing and perfecting the preset formulas to scan for the best breakout, pullback, and short selling setups for US, Canada, UK, and India stocks, the Morpheus Stock Screener said goodbye to beta mode and was finally launched just three months ago.
While in beta mode, we produced several demonstration videos explaining how our web-based stock and ETF scanning app worked, but we realized it was time to update our original, dusty old introduction video to incorporate newer features that were added into the final release.
As such, we just finished burning the midnight oil to produce and edit a shiny, new video that introduces the “official” release of the Morpheus Stock Screener.
Press “play” to view the brief video below, which is best viewed in full-screen HD mode (click the icon on bottom right corner of video player window):
What separates the Morpheus Stock Screener from the numerous other stock scanning apps out there?
Absolutely no knowledge of programming or coding is required, yet the app still presents you with the best potential swing trading setups for stock breakouts and pullbacks every day.
The exact “secret sauce” of our stock scan algorithms is proprietary, but here is generally what each of the three preset stock screens is designed to find:
When the broad market is uptrending, this scan identifies stocks and ETFs that have formed a valid basing pattern and are trading in a relatively tight trading range within 20% of 52-week highs. These equities are candidates to break out from a tight trading range within the next week or two and should be monitored carefully for a breakout entry (simply export scan results to your trading software and set price alerts).
When the broad market is uptrending, this scan locates stocks and ETFs that have recently broken out to new 52-week highs and have been pulling back (retracing) in orderly fashion over the past three to ten days. The best setups will pull back on relatively lighter volume and find support at the 10-day or 20-day moving averages. Our preset filter ensures all stocks and ETFs must at least be trading above their 30-day moving averages.
Short the Bounce
When the market is downtrending, this scan identifies low-risk short selling opportunities by locating weak stocks or ETFs that have “stalled out” at or near resistance, after having a short-term bounce off the most recent “swing low.” Our preset filter ensures all stocks are trading at or below their 50-day moving averages.
Because we are trend traders, the “Potential Breakout” and “Pullbacks” scans should only be used in bullish or uptrending markets, while “Short The Bounce” is designed exclusively for weak or downtrending markets.
Screener App vs. Trading Newsletter
Because we’ve been publishing our nightly stock and ETF picking newsletter (The Wagner Daily) since 2002, you may be wondering why we would decide to offer traders a software app that is also designed to pick the best stocks and ETFs to buy.
Isn’t that redundant, one might ask? No, and here’s why…
Which Traders Should Use The Morpheus Stock Screener?
The stock screener app is for intermediate to advanced traders who prefer to make their own trading decisions for buy and sell entries, but are simply looking for a fast and effective way to generate quality trade ideas.
When a trader signs up for the Morpheus Stock Screener (just 5 bucks for the first month), he/she receives access to our automated, computer-generated scans that have been carefully coded to find the best trade setups for breakout, pullback, and short selling. Each scan produces a short list of candidates for traders to scan through and find their best trades (the number of scan results is always directly proportionate to market conditions).
Overall, the scanning app literally saves active swing and position traders hours of nightly research compared to manually sifting through hundreds (or thousands) of stock charts.
How Is The Wagner Daily Newsletter Different Than The Screener?
In our Wagner Daily swing trading newsletter (a completely separate service of the stock screener), we manually scan through hundreds of charts every night, cherry pick only the best-looking stock and ETF trade setups, then e-mail subscribers our exact and predetermined buy trigger, stop, and target prices.
Many subscribers are beginning to intermediate-level traders who like the personal, “hand holding” approach. However, we also have quite a few subscribers who have been with us for many years because they value the ongoing trading education provided in our “no nonsense” commentary and daily market analysis. Many experienced traders also subscribe primarily for access to our proven market timing system (details here).
The newsletter is sent every night, well before the next day’s market open, which enables subscribers (even part-time traders) to plan out the full trading day in advance.
Additionally, we send out intraday alerts via e-mail and/or text message to confirm all trade entries and exits.
Perhaps the greatest benefit for newsletter subscribers (get your 30-day risk-free trial here) is complimentary access to our Live Mentoring Room from 9:30 to 11:30 am every trading day, as well as hour-long webinars held every Mon and Wed from 12pm to 1pm ET (recorded and archived for those who cannot attend live).
If you’ve got any questions about our stock screener app (or newsletter service), just drop us a comment below. Also, if you’re already a subscriber, we’d love to hear your feedback too.