{"id":16634,"date":"2022-08-09T06:48:00","date_gmt":"2022-08-09T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16634"},"modified":"2023-02-08T05:12:53","modified_gmt":"2023-02-08T10:12:53","slug":"swing-trading-stocks-080922","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-080922\/","title":{"rendered":"The Wagner Daily &#8211; $HRMY Forms Flat Base for Potential Breakout"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220809HRMY.png\" alt=\"hrmy daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; August 09, 2022<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211;&nbsp; BUY&nbsp; &nbsp;<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a><strong><em>today&#8217;s watchlist along with open and closed positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220809list.png\" title=\"\"><br \/><br \/><a><strong><em>position notes:<\/em><\/strong><\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$EVH buy stop triggered.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>The Nasdaq Composite stalled after taking out the two-day high and reversed lower, closing in the bottom 20% of the day&#8217;s range on a pick-up in volume. The bearish reversal action \/ weak close suggests the trend is losing steam. Monday&#8217;s weakness should be confirmed by a lower close on Tuesday.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220809IXIC.png\" alt=\"Nasdaq Comp daily\" title=\"\"><\/figure>\n\n\n\n<p>A break of Monday&#8217;s low (on the chart above), with follow-through, would likely spark a short-term pullback in the major averages. How leading stocks near 52-week highs react to the potential selling should provide us with more clues as to the health of this rally. Will leadership take over when stocks bouncing off lows run into heavy resistance and stall?&nbsp;<\/p>\n\n\n\n<p>$EVH triggered and was added to the model portfolio.<\/p>\n\n\n\n<p>There are no new setups for Tuesday.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>This is not an official setup.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220809HRMY.png\" alt=\"hrmy daily\" title=\"\"><\/figure>\n\n\n\n<p><strong>Unofficial Setups<\/strong> &#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;Longs &#8211;&nbsp; markets extended, setups drying up<\/li>\n\n\n\n<li>\u00a0Shorts &#8211;\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<p>See you in the chatroom,<\/p>\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n\n\n\n\n<p>This list is a good starting point for monitoring the health of the market for those who have limited time.<\/p>\n\n\n\n<p><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\">https:\/\/morpheustrading.com\/services\/swing-trade-alerts<\/a><\/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>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.<\/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-16634","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\/16634","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=16634"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16634\/revisions"}],"predecessor-version":[{"id":16638,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16634\/revisions\/16638"}],"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=16634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}