{"id":16176,"date":"2022-11-08T06:48:00","date_gmt":"2022-11-08T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16176"},"modified":"2023-02-03T06:53:49","modified_gmt":"2023-02-03T11:53:49","slug":"swing-trading-stocks-110822","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-110822\/","title":{"rendered":"The Wagner Daily &#8211; Energy ETFs: $OIH, $XLE Vulnerable to Profit-Taking"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221108OIH.png\" alt=\"$OIH daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; November 8, 2022<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> 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. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211;&nbsp; BUY&nbsp;&nbsp;(from 10\/21\/22 follow-through day buy signal)<\/em><\/strong><\/a><\/p>\n\n\n\n<p>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&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a><strong><em>today&#8217;s watchlist along with open and closed positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221108list.png\" title=\"\">&nbsp;<br \/><br \/><a><strong><em>position notes:<\/em><\/strong><\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No trades triggered.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>The S&amp;P 500 reclaimed the 20 and 50-day MAs on lighter volume Monday. Let&#8217;s see how this index holds up this week vs mid-term elections, inflation data, and last Wednesday&#8217;s ugly red candle, which is in control.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221108SPX.png\" alt=\"$s&amp;p 500 daily\" title=\"\"><\/figure>\n\n\n\n<p>Nasdaq 100 ETF $QQQ is in bounce mode. The price may be able to push through the 20-day EMA for a day or two but let&#8217;s see where this index stands by Friday&#8217;s close.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221108QQQ.png\" alt=\"$Nasdaq 100 daily \" title=\"\"><\/figure>\n\n\n\n<p>Overall, our scans are not seeing many lower-risk buy setups out there in stocks within 25% of a 52-week high.&nbsp; Our short-term plan is to take it slow and see how the broad-based averages hold up this week.<\/p>\n\n\n\n<p>Energy ETFs $OIH and $XLE have taken out base highs after an extended move and may be vulnerable to some profit-taking within the next week or two. Not trying to call a top here, just noting that the charts are a bit extended from the 20-day EMA.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221108OIH.png\" alt=\"$OIH daily \" title=\"\"><\/figure>\n\n\n\n<p>$BIIB failed another breakout attempt on Monday, but if Tuesday&#8217;s action remains in the trading wick of Monday, then we&#8217;d look for some follow-through to the upside if the price can take out Monday&#8217;s high. If the price action weakens, then a test of the rising 20-day EMA would be an ideal low-risk buy point.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221108BIIB.png\" alt=\"$BIIB daily \" title=\"\"><\/figure>\n\n\n\n<p>After a big volume gap up above the base high, $SMCI is potentially in play on weakness on a touch of the 8-day EMA.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221108SMCI.png\" alt=\"$SMCI daily \" title=\"\"><\/figure>\n\n\n\n<p><strong>Unofficial Watchlist<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Longs &#8211; $BIIB $TMDX &amp; $SMCI (pullback 8ema)<\/li>\n\n\n\n<li>Shorts &#8211; (none)<\/li>\n<\/ul>\n\n\n\n \n\n\n\n\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n\n\n\n\n\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Energy ETFs $OIH and $XLE have taken out base highs after an extended move and may be vulnerable to some profit-taking within the next week or two. Not trying to call a top here, just noting that the charts are a bit extended from the 20-day EMA.<\/p>\n","protected":false},"author":2,"featured_media":12060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[782],"tags":[],"class_list":["post-16176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wagner-daily-archives"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=16176"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16176\/revisions"}],"predecessor-version":[{"id":16180,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16176\/revisions\/16180"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media\/12060"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=16176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}