{"id":17828,"date":"2021-11-23T06:48:00","date_gmt":"2021-11-23T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=17828"},"modified":"2023-02-17T08:38:20","modified_gmt":"2023-02-17T13:38:20","slug":"swing-trading-stocks-112321","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-112321\/","title":{"rendered":"The Wagner Daily &#8211; Ugly Start: S&amp;P and Nasdaq Distribution"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211123IXIC.png\" alt=\"Nasdaq Composite daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; November 23, 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<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>quick jump to:<\/strong><a href=\"#watchlist\">today&#8217;s watchlist<\/a><a href=\"#positions\">open &amp; closed positions<\/a><a href=\"#etf\">market commentary<\/a><\/td><td><strong>resources:<\/strong><a href=\"http:\/\/www.morpheustrading.com\/wagnerdailyguide-new.htm\" target=\"_blank\" rel=\"noreferrer noopener\">subscriber guide<\/a><a href=\"http:\/\/www.morpheustrading.com\/best-swing-trading-strategy\/\" target=\"_blank\" rel=\"noreferrer noopener\">our trading strategy<\/a><a href=\"http:\/\/www.morpheustrading.com\/blog\" target=\"_blank\" rel=\"noreferrer noopener\">blog<\/a><\/td><td><strong>handy links:<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211; BUY&nbsp;&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 id=\"watchlist\"><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" title=\"\"><br \/><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211123open.png\" alt=\"$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\/211123closed.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>Per intraday alert, sold $AMD to lock in a +25% gain.<\/li>\n\n\n\n<li>$ZI stops triggered for a scratch gain.<\/li>\n\n\n\n<li>Per intraday alert, sold half of $ON for a 6% gain and raised the stop on the second half.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a id=\"etf\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Stocks kicked off a holiday-shortened week of trading with ugly distribution days in the Nasdaq Composite and S&amp;P 500. The Nasdaq Composite dropped -1.3% on volume and closed with a wide-ranged, bearish reversal candle after a failed gap up to highs. Although the S&amp;P 500 only gave back -0.3%, it closed -1.2% off the highs of the day after a failed breakout attempt.<\/p>\n\n\n\n<p>The S&amp;P 500 and Nasdaq Composite are still in trend mode above the rising 20-day EMA.&nbsp; Midcap growth ETF $IWP is no longer in trend mode as it sliced through the 20-day EMA.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211123IXIC.png\" alt=\"Nasdaq Composite daily\" title=\"\"><\/figure>\n\n\n\n<p>Russell Midcap Growth $IWP<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211123IWP.png\" alt=\"iwp DAILY\" title=\"\"><\/figure>\n\n\n\n<p>In last night&#8217;s report, we mentioned &#8220;<em>there was some disappointing action in leadership last week, but the good still outweighs the bad and our timing model remains on a buy signal.<\/em>&#8221; The timing model is still on a buy signal, but in the short term, Monday&#8217;s selling forced us to raise some cash and tighten up stops.&nbsp;&nbsp;Whether we are short-term cautious for a few hours or a few days, will depend on how stocks react to Monday&#8217;s selling.&nbsp; &nbsp;<\/p>\n\n\n\n<p>There are no new setups for Tuesday. Note that the $NEWR buy stop has been canceled.<\/p>\n\n\n\n<p>We sold all of $AMD, half of $ON, and raised the stop on the remaining half to lock in gains. $ZI stops triggered for a scratch gain. Recent breakouts in $ZI and $S were disappointing due to the weak follow-through.<\/p>\n\n\n\n<p>We now have four open positions in the model portfolio: $NVDA, $RBLX, $ENPH, and $ON. By selling $AMD and $ON, we reduced exposure to semis to help us sit through a pullback in $NVDA. Note that we tightened up the stop on half the $NVDA add due to Monday&#8217;s ugly reversal.<\/p>\n\n\n\n<p>We are trying to give $NVDA, $RBLX, and $ENPH enough room due to the explosive follow-through from our buy points. For those who do not wish to hold through a potential pullback, selling all or partial size near Monday&#8217;s close may be best. Really depends on how one prefers to trade.<\/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>Stocks kicked off a holiday-shortened week of trading with ugly distribution days in the Nasdaq Composite and S&#038;P 500. The Nasdaq Composite dropped -1.3% on volume and closed with a wide-ranged, bearish reversal candle after a failed gap up to highs. Although the S&#038;P 500 only gave back -0.3%, it closed -1.2% off the highs of the day after a failed breakout attempt.<\/p>\n<p>The S&#038;P 500 and Nasdaq Composite are still in trend mode above the rising 20-day EMA.\u00a0 Midcap growth ETF $IWP is no longer in trend mode as it sliced through 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-17828","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\/17828","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=17828"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17828\/revisions"}],"predecessor-version":[{"id":17856,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17828\/revisions\/17856"}],"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=17828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}