{"id":17788,"date":"2021-12-02T06:48:00","date_gmt":"2021-12-02T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=17788"},"modified":"2023-02-17T04:50:13","modified_gmt":"2023-02-17T09:50:13","slug":"swing-trading-stocks-120221","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-120221\/","title":{"rendered":"The Wagner Daily &#8211; SP500 Hits 50% Fibo Level"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211202SPX.png\" alt=\"S&amp;P 500 daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; December 2, 2021<\/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; SELL&nbsp; (sell signal&nbsp; November 26)<\/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=\"$todays watchlist\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" title=\"\"><br \/><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/open.png\" alt=\"$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=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211202closed.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>Closed all open positions due to deteriorating market conditions.<\/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>Wednesday&#8217;s heavy volume selling delivered a knock-out blow to the uptrend in the Nasdaq Composite which was hanging on by a thread after closing below the 20-day EMA on November 26. With the Nasdaq now at the 50-day MA there isn&#8217;t much to do on the long or short side&#8230; cash is king.<\/p>\n\n\n\n<p>As far as support goes, the Nasdaq has the 50% fibo level and rising 20-period EMA around 15,200. The 61.8% fibo level and uptrend line converge around 15,000.<\/p>\n\n\n\n<p>Nasdaq Composite &#8211; Weekly<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211202IXIC.png\" alt=\"Nasdaq Composite weekly\" title=\"\"><\/figure>\n\n\n\n<p>The S&amp;P 500 sliced through the 50-day MA and closed at the 50% fibo level. The next significant level is the 61.8% fibo at 4,456.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211202SPX.png\" alt=\"S&amp;P 500 daily\" title=\"\"><\/figure>\n\n\n\n<p>While the Nasdaq Composite and S&amp;P 500 have given back half of the last rally, Midcap Growth ETF $IWP (our proxy for growth) has retraced 90% of the last wave up and is at the 40-week MA. Growth has taken a beating this week.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211202IWP.png\" alt=\"IWP daily\" title=\"\"><\/figure>\n\n\n\n<p>Up until Wednesday, we were trading and monitoring a very narrow list of growth stocks that were showing relative strength.&nbsp;As of Wednesday&#8217;s close, that list is down to a few stocks that are holding up really well but at best may go sideways while the market sells off.&nbsp; The reward for going long is no longer worth the risk we take in holding.&nbsp;&nbsp;<\/p>\n\n\n\n<p>There are no new setups for Thursday. The model portfolio is 100% in cash after stopping out of $RBLX and $ENPH, as well as selling all of $NVDA and $PSTG. In the short-term, we are in S.O.H. mode (sit on hands), as there isn&#8217;t much to do on the long or short side. Let&#8217;s step aside for a day or two and see how the market reacts to Wednesday&#8217;s selloff.<\/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>none<\/li>\n<\/ul>\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>The S&#038;P 500 sliced through the 50-day MA and closed at the 50% fibo level. The next significant level is the 61.8% fibo at 4,456.<\/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-17788","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\/17788","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=17788"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17788\/revisions"}],"predecessor-version":[{"id":17820,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17788\/revisions\/17820"}],"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=17788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}