{"id":17346,"date":"2022-03-07T06:48:00","date_gmt":"2022-03-07T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=17346"},"modified":"2023-02-14T02:55:46","modified_gmt":"2023-02-14T07:55:46","slug":"swing-trading-stocks-030722","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-030722\/","title":{"rendered":"The Wagner Daily &#8211; $RTX potential swing trade setup"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220307RTX.png\" alt=\"$RTX daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; March 7, 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<\/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=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" title=\"\"><br \/><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220307open.png\" alt=\"$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\/220307closed.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>Stopped out of $LYV and $DOCS.<\/li>\n\n\n\n<li>Per intraday alert, sold short $AMC and $QQQ through the inverse ETF $PSQ.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Nasdaq 100 futures is following through on Friday&#8217;s weakness and down -2% as of this writing.<\/p>\n\n\n\n<p>The daily chart is now back below the January low at 13,700 and may be headed to the prior low IF the 13,400 area does not hold.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220307NQ.png\" alt=\"$Naz 100 daily \" title=\"\"><\/figure>\n\n\n\n<p>S&amp;P 500 futures is -1.6% off Friday&#8217;s close but still above the January low.<\/p>\n\n\n\n<p>Continues to struggle with the declining 20-day EMA.&nbsp;&nbsp;<\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$S&amp;P 500 futs daily \" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220307ES.png\" title=\"\">e<\/p>\n\n\n\n<p>Per intraday alert, we established two short positions last Friday in $PSQ and $AMC. $PSQ is an inverse ETF that allows us to short $QQQ by going long.<\/p>\n\n\n\n<p>The target for the $AMC trade and the reason for the entry are detailed on the chart below.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220307AMC.png\" alt=\"$AMC daily \" title=\"\"><\/figure>\n\n\n\n<p>The model portfolio is 15% invested on the short side after stopping out of long positions in $LYV and $DOCS.<\/p>\n\n\n\n<p>Since the US markets are significantly lower in after-hours trading, there are no new official setups for Monday.&nbsp; Stay tuned for intraday alerts.<\/p>\n\n\n\n<p>Several short setups from the unofficial short watchlist triggered last week and have worked out well.<\/p>\n\n\n\n<p>Below are a few of the short setups&nbsp;showing the same type of look, bouncing into a declining 8-10 day moving average in a weak market.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220307RBLX.png\" alt=\"$RBLX  daily \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220307SHOP.png\" alt=\"$SHOP  daily \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220307APP.png\" alt=\"$APP daily \" title=\"\"><\/figure>\n\n\n\n<p>On the long side, most oil names are too extended to be in play. Defense stock $RTX has pulled back off the highs after a strong breakout and is potentially in play for a swing trade over last Friday&#8217;s high or on a gap-down reversal entry if Monday&#8217;s open is below Friday&#8217;s low. This is not an official setup.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220307RTX.png\" alt=\"$RTX daily \" title=\"\"><\/figure>\n\n\n\n<p>Keys to market turning bullish:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Buy signal in the timing model through a FTD or reclaim of 21-day EMA<\/li>\n\n\n\n<li>Stocks begin to breakout on volume and hold&#8230; indexes hold the 21-day EMA<\/li>\n\n\n\n<li>The number of stocks making new 52-week highs vs 52-week lows enters into positive territory<\/li>\n\n\n\n<li>After the first wave of breakouts, new setups emerge<\/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; $KSS $RTX<\/li>\n\n\n\n<li>\u00a0Shorts &#8211; $DKNG $GDRX $CLX (below prior day&#8217;s low unless there is a big gap down)<\/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>On the long side, most oil names are too extended to be in play. Defense stock $RTX has pulled back off the highs after a strong breakout and is potentially in play for a swing trade over last Friday&#8217;s high or on a gap-down reversal entry if Monday&#8217;s open is below Friday&#8217;s low. This is not an official setup.<\/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-17346","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\/17346","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=17346"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17346\/revisions"}],"predecessor-version":[{"id":17350,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17346\/revisions\/17350"}],"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=17346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}