{"id":16232,"date":"2022-10-26T06:48:00","date_gmt":"2022-10-26T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16232"},"modified":"2023-02-03T12:01:25","modified_gmt":"2023-02-03T17:01:25","slug":"swing-trading-stocks-102622","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-102622\/","title":{"rendered":"The Wagner Daily &#8211; Supporting the $S&#038;P 500: 3,800 is the Key"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221026SPX.png\" alt=\"$s&amp;p 500\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; October 26, 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; (time to put money to work)&nbsp;&nbsp;<\/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\/221026list.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>Per intraday alert, bought an intraday pullback in $SWAV after an explosive downtrend line break.<\/li>\n\n\n\n<li>Canceled the $GFS buy limit order.<\/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>In response to earnings, $GOOGL fell roughly 7% after Tuesday&#8217;s close, which caused the Nasdaq 100 and S&amp;P 500 futures to decline by -2% and -1% respectively.<\/p>\n\n\n\n<p>Let&#8217;s see how stocks respond on Wednesday. If conditions are improving, then look for broad-based averages to absorb the selling and push higher within the next day or two.<\/p>\n\n\n\n<p>S&amp;P 500 has support around 3,800 from the prior swing high on the daily chart. On the 60-minute chart, the 20-period EMA should provide support.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221026SPX.png\" alt=\"$s&amp;p 500\" title=\"\"><\/figure>\n\n\n\n<p>Per intraday alert, we bought $SWAV on an intraday pullback from an explosive downtrend line break. If the price cooperates, we will attempt to add to our position on strength during the next few days.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221026SWAV.png\" alt=\"$SWAV daily \" title=\"\"><\/figure>\n\n\n\n<p>Oil &amp; Gas Exploration and Production ETF $XOP&nbsp; and $GUSH&nbsp; have tightened up quite a bit in the past few weeks while holding the rising 8 and 20-day EMAs.<\/p>\n\n\n\n<p>This is not an official buy setup.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221026XOP.png\" alt=\"$XOP daily \" title=\"\"><\/figure>\n\n\n\n<p>Oil and gas stocks, $DINO, $DK, $SU, and $SM are potentially in play.<\/p>\n\n\n\n<p>$SM is trading in a tight range just below the trendline. The unofficial entry is over last week&#8217;s high.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221026SM.png\" alt=\"$SM daily \" title=\"\"><\/figure>\n\n\n\n<p>Other setups to watch- $SRPT on strength and $GFS on a pullback<\/p>\n\n\n\n<p><strong>Unofficial Setups<\/strong>&nbsp;&#8211;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Longs &#8211; $YOU $CELH $AXNX&nbsp;<\/li>\n\n\n\n<li>Shorts &#8211;&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n \n\n\n\n\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n\n\n\n\n\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$S&#038;P 500 has support around 3,800 from the prior swing high on the daily chart. On the 60-minute chart, the 20-period EMA should provide support.<\/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-16232","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\/16232","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=16232"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16232\/revisions"}],"predecessor-version":[{"id":16236,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16232\/revisions\/16236"}],"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=16232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}