The Wagner Daily – S&P 500: Holding on to Prior Low or New Low?

Enjoy this post? Share the love.

$S&P 500 daily

The Wagner Daily – May 9, 2022

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 –  Sell  

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):

$todays watchlist

open positions:

$open positions

closed positions:

$closed positions

position notes:

  • No trades triggered.


The Nasdaq Composite is looking more like a breakout to the downside than a shakeout, as the price closed below support for the second Friday in a row. Any bounce will be viewed as a shorting opportunity.

The Nasdaq Composite daily:

$Nasdaq Comp daily

The S&P 500 is still hanging on to the prior low. However, if last Friday’s low does not hold, then we will likely see a pick up in selling and a possible new low on the year.

If the S&P 500 can open above and hold last Friday’s close, then it may have a shot of reversing.

$S&P 500 daily

$AAPL closed below the 200-day MA for the second week in a row after another rejection at the 50-day MA. If the price takes out $150… could get ugly.

$AAPL daily

The model portfolio is long crude with last week’s buy in $USO. Note the price swings tightening up from left to right on the chart which is what we look for in quality basing patterns. Friday’s inside day is constructive action provided that the price holds above the rising 8-day EMA.

$USO daily

$MOS, $CF, $ADM, and $BG are a few leading stocks that are in a big spot near the 50-day MA. Can they hold?

$ADM daily

Unofficial Setups – For experienced traders only, no guidance is given for these setups.

  •  Longs – watching $CC $LNTH $MRK, $MOS, $ADM     
  •  Shorts – $JPM, $C, $WFC (entries below prior day’s low)

See you in the chat room,


This list is a good starting point for monitoring the health of the market for those who have limited time.

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.

Enjoy this post? Share the love.

Please leave your comment below!

Your email address will not be published. Required fields are marked *