{"id":16282,"date":"2022-10-14T06:48:00","date_gmt":"2022-10-14T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16282"},"modified":"2023-02-17T00:30:13","modified_gmt":"2023-02-17T05:30:13","slug":"swing-trading-stocks-101422-2","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-101422-2\/","title":{"rendered":"The Wagner Daily &#8211; $XLE ETF: A Bright Spot in Bear Market"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221014XLE.png\" alt=\"$XLE daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; October 14, 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=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220926list.png\" title=\"\">&nbsp;<br \/><br \/><a><strong><em>position notes:<\/em><\/strong><\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No trades triggered.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Stock market averages staged an impressive reversal, closing with gains of more than 2% after overcoming a big gap down on the open in response to higher-than-expected inflation data.&nbsp;<\/p>\n\n\n\n<p>The daily range of the Nasdaq Composite from low to high was nearly 6%, which can be attributed to a weak market that undercut a major swing low and was due for a bounce at some point.&nbsp;<\/p>\n\n\n\n<p>Just a reminder that some of the most spectacular one-day market swings occur during a bear market.&nbsp;<\/p>\n\n\n\n<p>While Thursday&#8217;s action is the first day of a fresh rally attempt, we still need to see additional proof of a bull, as well as a follow-through day on day four or later of a new rally attempt, to create a buy signal.<\/p>\n\n\n\n<p>A follow-through day is defined as a 1.5% or more gain in the S&amp;P 500 or Nasdaq Composite on increased volume. If Thursday&#8217;s low holds, we might see a buy signal as early as next Tuesday.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221014IXIC.png\" alt=\"$NASDAQ COMP \" title=\"\"><\/figure>\n\n\n\n<p>The oil and banking sectors led Thursday&#8217;s charge.&nbsp;<\/p>\n\n\n\n<p>Energy ETF $XLE is one of the few areas that has avoided this bear market and is in decent shape technically,&nbsp;&nbsp;so we may consider adding some exposure as setups emerge.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221014XLE.png\" alt=\"$XLE daily \" title=\"\"><\/figure>\n\n\n\n<p>On the other hand, financial ETF $XLF while basing out, remains in a downtrend and is currently rebounding after hitting a new 52-week low.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221014XLF.png\" alt=\"$xlf daily \" title=\"\"><\/figure>\n\n\n\n<p>Tech remains weak with both $XLK (technology sector ETF) and $SMH (semis) in an ugly downtrend<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221014XLK.png\" alt=\"$XLK daily \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221014SMH.png\" alt=\"$SMH daily \" title=\"\"><\/figure>\n\n\n\n<p>Due to the fact that we are still in a longer-term bear market, our short-term strategy is to remain in cash until a reliable buy signal is in place (as early as Tuesday).<\/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; none (waiting for a clear buy signal)<\/li>\n\n\n\n<li>Shorts &#8211;&nbsp;none&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>See you in the chat room,<\/p>\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\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 ETF $XLE is one of the few areas that has avoided this bear market and is in decent shape technically,\u00a0\u00a0so we may consider adding some exposure as setups emerge.<\/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-16282","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\/16282","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=16282"}],"version-history":[{"count":2,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16282\/revisions"}],"predecessor-version":[{"id":17686,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16282\/revisions\/17686"}],"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=16282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}