{"id":16940,"date":"2022-05-31T06:48:00","date_gmt":"2022-05-31T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16940"},"modified":"2023-02-09T10:58:09","modified_gmt":"2023-02-09T15:58:09","slug":"swing-trading-stocks-053122","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-053122\/","title":{"rendered":"The Wagner Daily &#8211; $LTHM Misses Trigger: Update on Last Friday&#8217;s Setup"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220531LTHM.png\" alt=\"$LTHM daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; May 31, 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 5\/26 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=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220531watch.png\" title=\"\"><br \/><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/open.png\" alt=\"$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=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No trades triggered.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Last Friday&#8217;s close was more than 1% above the 21-day EMA on the&nbsp;S&amp;P 500 and Nasdaq&nbsp;Composite, which is another buy signal in addition to last week&#8217;s follow-through day in the Nasdaq.&nbsp;&nbsp;We only use the 21-day ema on the S&amp;P 500 and Nasdaq for our timing model.&nbsp; The 20-day ema is used for stock and ETF analysis.&nbsp;&nbsp;<\/p>\n\n\n\n<p>There is quite a bit of overhead (resistance) on both charts below which could limit the upside, but as we know&#8230;anything can happen. No predictions here.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220531SPX.png\" alt=\"$SP 500 daily \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220531IXIC.png\" alt=\"$NASDAQ daily \" title=\"\"><\/figure>\n\n\n\n<p>Last Friday&#8217;s official setup in $LTHM missed its trigger by a few cents. The reason why we went with a limit order slightly above the prior day&#8217;s close is that we were looking for a flat or slightly lower open. We thought about placing a buy stop above the prior day&#8217;s high, but the protective stop beneath the 2-day low would have been close to 12% (too wide).<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220531LTHM.png\" alt=\"$LTHM daily \" title=\"\"><\/figure>\n\n\n\n<p>With most stocks straight up the past few days, our weekly scans did not turn up many actionable buy setups.<\/p>\n\n\n\n<p>We do have one new official entry in $GLNG over the high of last Thursday&#8217;s washout reversal candle.<\/p>\n\n\n\n<p>$GLNG has formed a six-week-long and 22% deep base with a 99 relative strength rating from IBD. The industry group rank is 10 out of 197.<\/p>\n\n\n\n<p>The stop is below Friday&#8217;s low, which is also below 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\/220531GLNG.png\" alt=\"$GLNG  daily \" title=\"\"><\/figure>\n\n\n\n<p>There isn&#8217;t a lot out there in terms of high quality breakout setups, but we could see some 2-3 day pullback entries in energy later this week or early next week.<\/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; $SBLK (over Fri high), $MOS (over 2-day high, patience required here so size small), $VERU buy stop 13.20, $CEIX &#8211; buy stop 55.00<\/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>Last Friday&#8217;s official setup in $LTHM missed its trigger by a few cents. The reason why we went with a limit order slightly above the prior day&#8217;s close is that we were looking for a flat or slightly lower open. We thought about placing a buy stop above the prior day&#8217;s high, but the protective stop beneath the 2-day low would have been close to 12% (too wide).<\/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-16940","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\/16940","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=16940"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16940\/revisions"}],"predecessor-version":[{"id":16962,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16940\/revisions\/16962"}],"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=16940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}