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 – weak signal so far, with little follow-through in leading biotech names
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:
Broad market averages chopped around in the morning and early afternoon before selling off sharply into the close. The Nasdaq Composite and S&P 500 both gave back roughly -1%. However, volume was lighter on the Nasdaq for the second day in a row while NYSE volume increased.
Can the Nasdaq recapture the 20-day EMA? If not, then it may be headed for more chop.
Many recent breakouts in biotech stocks have failed to impress, forcing our exposure down to 10% in the model portfolio.
Per intraday alert, $LI was also sold to reduce risk but could be back in play soon.
$XBI closed with a bullish reversal candle and is in play over Tuesday’s high. This is an official entry with a buy stop looking to add back the 2% position we stopped out of on Tuesday.
Let’s see how the market opens up with the July 13 CPI number hitting the market at 8:30 am.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
See you in the chatroom,
Rick
This list is a good starting point for monitoring the health of the market for those who have limited time.
https://morpheustrading.com/services/swing-trade-alerts
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…