Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).
Subscribe now 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.
Just drop us a comment with any questions or comments–we’d love to hear from you!
MTG Market Timing Model – Buy
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&P 500 or Nasdaq Composite.
today’s watchlist (potential trade entries):
open positions:
closed positions:
position notes:
Commentary:
Friday’s selling increased the odds for further weakness in the S&P 500 ETF $SPY with support at the 10-day EMA at $473.
The Nasdaq Composite is near a big support level at 15,600.
Our game plan is to sit tight with two open positions and see how the market holds up on Monday. If further weakness leads to bullish reversal candles on the daily chart of the main averages, then we could see some pullback setups emerge on Tuesday or Wednesday.
Note the new stop on $ANET which was lowered just a bit (would result in a 4% gain if triggered).
We remain long $MU with a stop beneath the low of the wide-ranged advance on 12-23. Look for support to come in around the 8-day EMA or 10-day SMA.
Growth remains out of favor with very few stocks above the 50-day MA. $TSLA, $DDOG, and $MDB are a few we continue to monitor.
$AMAT, $QCOM, $MRVL, $SLAB are all holding up near highs. Can they follow through to the upside? Will $AMD and $NVDA hold the 50-day MA?
A few stocks that are setting up:
$F is sitting near highs with a 3 week long flat base above the rising 20ema. This is not an official setup.
$TREX is in consolidation mode after a +50% rally off the lows. Look for the price to chop around above the 20-day EMA with a move through last week’s high as a buy signal unless a lower buy point emerges. Not an official setup.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
Start my Wagner Daily membership now to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. The Wagner Daily PRO includes live swing trader room for daily, real-time trade ideas and powerful stock trading education.
Unlock the secrets to identifying market bottoms and harness the power of opportunity amidst market turbulence. Dive into our comprehensive…
Are you ready to seize the golden opportunity in trading? In our last analysis, we forecasted a monumental breakout in…
Embark on a journey to master the art of crypto swing trading with Deron Wagner, founder of Morpheus Trading Group.…
In the fast-paced world of trading, navigating through the noise of social media can be daunting. But fear not, for…
Feeling a bit shaken up by Bitcoin's recent turbulence? Don't worry, we've got you covered! Dive into this comprehensive guide…
Ever left mountains of potential profits on the table by exiting your winning trades too soon? Kicking yourself for missing…