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 along with open and closed positions:
position notes:
Commentary:
The Nasdaq Composite stalled after taking out the two-day high and reversed lower, closing in the bottom 20% of the day’s range on a pick-up in volume. The bearish reversal action / weak close suggests the trend is losing steam. Monday’s weakness should be confirmed by a lower close on Tuesday.
A break of Monday’s low (on the chart above), with follow-through, would likely spark a short-term pullback in the major averages. How leading stocks near 52-week highs react to the potential selling should provide us with more clues as to the health of this rally. Will leadership take over when stocks bouncing off lows run into heavy resistance and stall?
$EVH triggered and was added to the model portfolio.
There are no new setups for Tuesday.
After a failed breakout attempt at new highs from a cup with handle pattern, $HRMY has formed a 5-week long flat base (only 15% deep) above the rising 50-day MA. If market conditions do not deteriorate and $HRMY holds the 50-day MA, then it may have a shot of breaking out down the road.
This is not an official setup.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
See you in the chatroom,
Rick
This list is a good starting point for monitoring the health of the market for those who have limited time.
https://morpheustrading.com/services/swing-trade-alerts
Start my Wagner Daily membership now to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. The Wagner Daily PRO includes live swing trader room for daily, real-time trade ideas and powerful stock trading education.
You know your trading rules. You've written them down. You even follow them in practice. Then the market opens, and…
Most traders would have sold Micron ($MU) at +20%. Some would have panic-sold when it pulled back to the 8-day…
Crude oil dropped sharply after the Iran ceasefire was announced, and most traders were glued to the headlines trying to…
Three weeks before this post, we moved to 100% cash right before the NASDAQ dropped 8.5%. Most traders either tried…
As Bitcoin breaks through critical resistance levels, seasoned traders are eyeing both opportunities and warning signs in today's volatile crypto…
While most investors are running for the exits, savvy traders are quietly building watchlists of stocks showing remarkable resilience. These…