{"id":16244,"date":"2022-10-24T06:48:00","date_gmt":"2022-10-24T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16244"},"modified":"2023-02-03T12:09:10","modified_gmt":"2023-02-03T17:09:10","slug":"swing-trading-stocks-102422","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-102422\/","title":{"rendered":"The Wagner Daily &#8211; Late Friday Gains: How $DVN Broke Its Downtrend"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221024DVN.png\" alt=\"$DVN daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; October 24, 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; SELL&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\/221024LIST.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 $DVN and $SSO.&nbsp;<\/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>Stocks closed out last week&#8217;s trading with a solid trend day to the upside. The S&amp;P 500 and Nasdaq Composite both gained roughly 2.3% as volume increased, generating a follow-through day buy signal.&nbsp; Along with the follow-through day, the S&amp;P 500 also closed by 1% or more above the 21-day EMA, which is another buy signal.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Per intraday alert, we added some long exposure to the S&amp;P 500 late Friday afternoon after the price took out last Thursday&#8217;s high, creating an outside day (outside day &#8211; today&#8217;s high is higher than the prior day&#8217;s high and today&#8217;s low is lower than the prior day&#8217;s low).&nbsp; We bought a half position in the 2x leveraged S&amp;P 500 ETF $SSO.&nbsp; &nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221024SPX.png\" alt=\"$NASDAQ 100 \" title=\"\"><\/figure>\n\n\n\n<p>Late Friday afternoon, with the timing model working towards a buy signal, we also purchased oil and gas stock $DVN over the prior day&#8217;s high based on a downtrend line break.&nbsp;&nbsp;<\/p>\n\n\n\n<p>After several failed attempts, the price finally closed above the downtrend line on a pick-up in volume.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221024DVN.png\" alt=\"$DVN daily \" title=\"\"><\/figure>\n\n\n\n<p>Although conditions are improving and we now have a buy signal, money is still flowing into non-growth stocks, which is a concern.&nbsp;&nbsp;<\/p>\n\n\n\n<p>A few megacap leaders report this week : 10\/26 &#8211; $META , 10\/27 &#8211; $AAPL $AMZN&nbsp;<\/p>\n\n\n\n<p>There are no new official setups for Friday.&nbsp; However, stay tuned for intraday alerts if any new setups are triggered.<\/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; $SRPT $FRO $JACK $RBLX $YELP&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>Late Friday afternoon, with the timing model working towards a buy signal, we also purchased oil and gas stock $DVN over the prior day&#8217;s high based on a downtrend line break.\u00a0\u00a0<\/p>\n<p>After several failed attempts, the price finally closed above the downtrend line on a pick-up in volume.<\/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-16244","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\/16244","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=16244"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16244\/revisions"}],"predecessor-version":[{"id":16248,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16244\/revisions\/16248"}],"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=16244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}