{"id":18082,"date":"2021-10-11T06:48:00","date_gmt":"2021-10-11T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18082"},"modified":"2023-02-20T23:11:47","modified_gmt":"2023-02-21T04:11:47","slug":"swing-trading-stocks-101121","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-101121\/","title":{"rendered":"The Wagner Daily &#8211; Bearish Outlook for $QQQ"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211011IWP.png\" alt=\"$IWP daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; October 11, 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 (waiting for a buy signal)&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=\"$todays watchlist\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211011watch.png\" title=\"\"><br \/><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211011open.png\" alt=\"$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\/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>Per intraday alert, bought $UPST.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a id=\"etf\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>After a short-terme bounce, major indices appear to be headed lower after stalling at resistance from the declining 20-day EMA on the daily charts.<\/p>\n\n\n\n<p>The S&amp;P 500 rallied about +0.7% above the 20-day EMA on Thursday before reversing and closing well off the highs of the session. Friday&#8217;s action produced an inside day with a close just below the 20-day EMA. A break of the two-day low would increase the odds for further downside and a&nbsp;test of the recent swing low.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211011SPX.png\" alt=\"$SP 500 daily\" title=\"\"><\/figure>\n\n\n\n<p>Nasdaq 100 ETF $QQQ was showed relative weakness to the S&amp;P 500,&nbsp;&nbsp;as the price failed to push much above 20-day EMA before reversing. The following session closed below the prior day&#8217;s low and the 10-day EMA.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211011QQQ.png\" alt=\"$Nasdaq Comp daily\" title=\"\"><\/figure>\n\n\n\n<p>We like $QQQ as a short entry on a break of Friday&#8217;s low, with a target of the recent swing low. Rather than short $QQQ, we are buying the 3x inverted $SQQQ with a buy stop limit order. See the watchlist above for trade details.<\/p>\n\n\n\n<p>Midcap Growth ETF $IWP also stalled at the 20-day EMA and closed below the 10-day EMA. Other growth-based ETFs $FFTY and $ARKK also look vulnerable to further selling in the short term.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211011IWP.png\" alt=\"$IWP daily \" title=\"\"><\/figure>\n\n\n\n<p>$DOCN did not close well last Friday after stalling near the prior high and selling off. Note the new stop just below breakeven. We&#8217;d rather stop out with a very small loss and wait for a lower-risk entry to develop.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211011DOCN.png\" alt=\"$DOCN  daily \" title=\"\"><\/figure>\n\n\n\n<p>The timing model remains on a sell singal heading into day 5 of a new rally attempt in the major indices.<\/p>\n\n\n\n<p>Below are a few stocks we are watching. No etries yet, just watching for now.<\/p>\n\n\n\n<p>Still watching $FRM $CFLT $DOCN $TASK $MNDY $LC $NFLX $PAG $MVRL&nbsp;&nbsp;<\/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>We like $QQQ as a short entry on a break of Friday&#8217;s low, with a target of the recent swing low. Rather than short $QQQ, we are buying the 3x inverted $SQQQ with a buy stop limit order. See the watchlist above for trade details.<\/p>\n<p>Midcap Growth ETF $IWP also stalled at the 20-day EMA and closed below the 10-day EMA. Other growth-based ETFs $FFTY and $ARKK also look vulnerable to further selling in the short term.<\/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-18082","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\/18082","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=18082"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18082\/revisions"}],"predecessor-version":[{"id":18086,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18082\/revisions\/18086"}],"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=18082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}