{"id":16872,"date":"2022-06-16T06:48:00","date_gmt":"2022-06-16T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16872"},"modified":"2023-02-09T05:04:17","modified_gmt":"2023-02-09T10:04:17","slug":"swing-trading-stocks-061622","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-061622\/","title":{"rendered":"The Wagner Daily &#8211; Oil Slips: Weakness Spreading"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220616CL.png\" alt=\"$crude oil futures daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; June 16, 2022<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211;&nbsp; SELL&nbsp;<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$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 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><strong>NOTE:<\/strong> US markets will be closed on Monday, June 20. Our next report is Tuesday (6\/21) and will be sent out by 5pm EST on Monday.<\/p>\n\n\n\n<p>Have a Happy and Safe Holiday Weekend!<\/p>\n\n\n\n<p>Stocks rallied higher in reaction to news of the Fed raising the fed funds rate by 0.75%.<\/p>\n\n\n\n<p>Wednesday&#8217;s action wasn&#8217;t overly impressive, just more of a bounce-type feel from oversold levels. The Nasdaq Composite outperformed with a 2.5% gain vs 1.5% in the S&amp;P 500.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Wednesday was day 1 of a new rally attempt.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The Nasdaq Composite also showed subtle signs of relative strength by closing back above the prior swing low and Monday&#8217;s high while the S&amp;P 500 did not.<\/p>\n\n\n\n<p>Look for Thursday&#8217;s open and morning session to hold above the prior day&#8217;s close, as this would be a sign of strength 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\/220616SPX.png\" alt=\"$spx daily \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220616COMP.png\" alt=\"$nasdaq daily \" title=\"\"><\/figure>\n\n\n\n<p>Leadership has thinned out the past few weeks and even energy is showing signs of weakness. As mentioned in yesterday&#8217;s report,&nbsp; $XLE showed bearish price and volume patterns the past few weeks which led to a selloff down to the 50-day MA.<\/p>\n\n\n\n<p>Now the daily chart of&nbsp;crude oil is below the 20-day EMA.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220616CL.png\" alt=\"$crude oil futures daily \" title=\"\"><\/figure>\n\n\n\n<p>Although it looks like the market could bounce higher from here, low-risk long setups are nowhere to be found. Ideally, we&#8217;d love to see another day or two of higher prices to produce quality short setups, which would be in line with the prevailing market trend.<\/p>\n\n\n\n<p>For now, cash remains king.<\/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;&nbsp;<\/li>\n\n\n\n<li>\u00a0Shorts &#8211; if market turns weak, $TWTR $CRWD\u00a0<\/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>Leadership has thinned out the past few weeks and even energy is showing signs of weakness. As mentioned in yesterday&#8217;s report,\u00a0 $XLE showed bearish price and volume patterns the past few weeks which led to a selloff down to the 50-day MA.<\/p>\n<p>Now the daily chart of\u00a0crude oil is below the 20-day EMA.<\/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-16872","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\/16872","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=16872"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16872\/revisions"}],"predecessor-version":[{"id":16876,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16872\/revisions\/16876"}],"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=16872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}