{"id":16808,"date":"2022-06-30T06:48:00","date_gmt":"2022-06-30T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16808"},"modified":"2023-02-09T02:45:25","modified_gmt":"2023-02-09T07:45:25","slug":"swing-trading-stocks-063022","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-063022\/","title":{"rendered":"The Wagner Daily &#8211; 2x Inverse Oil &amp; Gas ETF $DRIP in play post strong reversal"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220630DRIP.png\" alt=\"$DRIP daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; June 30, 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 (Nasdaq Comp. closed below the 20-day EMA)<\/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 (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" title=\"\"><br \/><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/open.png\" alt=\"$open positions\" title=\"\"><\/figure>\n\n\n\n<p><strong><em>closed positions:<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2020\/closed.png\" alt=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No new official setups<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Since reclaiming the 20-day EMA with a follow-through day last Friday, the Nasdaq Composite has failed to hold key support levels (20-day EMA, last Friday&#8217;s low, and 50% fibo). In pre-market trading, Nasdaq 100 futures broke Wednesday&#8217;s low, which increases the odds of further selling in the short term.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220630NQ.png\" alt=\"$Nasadq 100 FUTS\" title=\"\"><\/figure>\n\n\n\n<p>Last weeks&#8217;s late buying did not hold up well this week, which is disappointing for the bulls.<\/p>\n\n\n\n<p>There are no new official setups for Thursday, but we have a few unofficial setups to watch on the long and short side below.<\/p>\n\n\n\n<p>$DRIP is a 2x inverse Oil &amp; Gas Bear ETF. Wednesday&#8217;s strong reversal suggests another leg up after a brief pullback. Do not chase the price action, but an entry near Wednesday&#8217;s close is doable. It&#8217;s a volatile ETF, so one should probably reduce size to handle a wide stop or exit if the price retraces more than half of Wednesday&#8217;s reversal.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220630DRIP.png\" alt=\"$DRIP daily\" title=\"\"><\/figure>\n\n\n\n<p>$MOS sliced through the 200-day MA last week and failed a recent attempt to reclaim the 200 the past two sessions. A break of Wednesday&#8217;s low could spark another sell off. A protective stop can be placed at the&nbsp;200-day MA (for aggressive traders) or Wednesday&#8217;s high.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220630MOS.png\" alt=\"$MOS daily\" title=\"\"><\/figure>\n\n\n\n<p>On the long side, $HQY and $LNTH are a few charts we continue to monitor.<\/p>\n\n\n\n<p>Can $HQY&#8217;s handle hold the 50-day MA?<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220630HQY.png\" alt=\"$HQY daily\" title=\"\"><\/figure>\n\n\n\n<p>$LNTH above Wednesday&#8217;s high is interesting, but if market conditions weaken the trade may not be worth taking.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220630LNTH.png\" alt=\"$LNTH daily\" title=\"\"><\/figure>\n\n\n\n<p>As mentioned above, there are no new official setups as we sit 100% in cash waiting for lower-risk setups to emerge.<\/p>\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; see above<\/li>\n\n\n\n<li>\u00a0Shorts &#8211; see above<\/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\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>$DRIP is a 2x inverse Oil &#038; Gas Bear ETF. Wednesday&#8217;s strong reversal suggests another leg up after a brief pullback. Do not chase the price action, but an entry near Wednesday&#8217;s close is doable. It&#8217;s a volatile ETF, so one should probably reduce size to handle a wide stop or exit if the price retraces more than half of Wednesday&#8217;s reversal.<\/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-16808","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\/16808","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=16808"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16808\/revisions"}],"predecessor-version":[{"id":16812,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16808\/revisions\/16812"}],"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=16808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}