{"id":16934,"date":"2022-06-01T06:48:00","date_gmt":"2022-06-01T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16934"},"modified":"2023-02-09T10:49:29","modified_gmt":"2023-02-09T15:49:29","slug":"swing-trading-stocks-060122","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-060122\/","title":{"rendered":"The Wagner Daily &#8211; $BG in Play: Clears Resistance with Strong Ratings"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220601BG.png\" alt=\"$BG daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; June 1, 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 as of 3\/16 close<\/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\/2021\/220601closed.png\" alt=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$GLNG buy stop triggered. Per intraday alert, sold 1\/2 position of $GLNG 3.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Broad market averages pulled back a bit after last week&#8217;s strong thrust off the lows. The Nasdaq Composite closed -0.5% lower but on lighter volume, so not a distribution day (positive sign). The S&amp;P 500 dropped -0.3% but on lighter volume as well.<\/p>\n\n\n\n<p>Our long scans have dried up and would benefit from another day or two of chop in the market, as this would likely lead to NR7 or inside days (nr7 = most narrow range of the last 7 bars).<\/p>\n\n\n\n<p>$GLNG was bought and sold on Tuesday in the model portfolio for a small loss due to the false breakout. We will look to re-enter over the high of 5\/26 per intraday alert.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220601GLNG.png\" alt=\"$GLNG daily \" title=\"\"><\/figure>\n\n\n\n<p>$BG cleared resistance at $117 on heavier than average volume and could be in play on a pullback.<\/p>\n\n\n\n<p>$BG carries a 96 relative strength rating and 98 composite rating from IBD.&nbsp;&nbsp;&nbsp;The industry group rank is 22 out of 197.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220601BG.png\" alt=\"$BG daily \" title=\"\"><\/figure>\n\n\n\n<p>There are no new official setups for Wednesday. We will send an intraday alert if we decide to take action. Let&#8217;s see how stocks react to Tuesday&#8217;s weakness.<\/p>\n\n\n\n<p>Below is quick guide of what we will be looking for this week:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Can the Nasdaq Composite and S&amp;P 500 hold the rising 20-day ema? A quick break below the 20-day EMA this week would be a negative sign.<\/li>\n\n\n\n<li>Avoid distribution days in the Nasdaq or S&amp;P 500 (one may be ok, but two in one week would be a negative sign).<\/li>\n\n\n\n<li>How are recent breakouts working? Are they extending from the pivot or struggling?<\/li>\n\n\n\n<li>If recent breakouts pull back in, is the action constructive? Lower volume and not giving up much ground?<\/li>\n<\/ul>\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; $GLNG (over 5\/26 high) $BG (pullback)&nbsp;ADM&nbsp; (pullback) $ALB (over yest high)&nbsp; &nbsp;<\/li>\n\n\n\n<li>\u00a0Shorts &#8211;<\/li>\n<\/ul>\n\n\n\n<p>See you in the chat room,<\/p>\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n\n\n\n\n<p>This list is a good starting point for monitoring the health of the market for those who have limited time.<\/p>\n\n\n\n<p><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\">https:\/\/morpheustrading.com\/services\/swing-trade-alerts<\/a><\/p>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$BG cleared resistance at $117 on heavier than average volume and could be in play on a pullback.<\/p>\n<p>$BG carries a 96 relative strength rating and 98 composite rating from IBD.\u00a0\u00a0\u00a0The industry group rank is 22 out of 197.<\/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-16934","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\/16934","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=16934"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16934\/revisions"}],"predecessor-version":[{"id":16956,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16934\/revisions\/16956"}],"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=16934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}