{"id":18130,"date":"2021-09-29T06:48:00","date_gmt":"2021-09-29T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18130"},"modified":"2023-02-21T00:41:12","modified_gmt":"2023-02-21T05:41:12","slug":"swing-trading-stocks-092921","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-092921\/","title":{"rendered":"The Wagner Daily &#8211; Indices Signal Lower Prices Ahead"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210929SPX2.png\" alt=\"$SP 500 weekly  \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211;  September 29, 2021<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211; sell &nbsp;<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a id=\"watchlist\"><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$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\/open.png\" alt=\"$open positions\" title=\"\"><\/figure>\n\n\n\n<p><strong><em>closed positions:<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210929closed.png\" alt=\"$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>Sold all open positions.<\/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>All major indices we follow sliced through the 50-day MA on higher volume, increasing the odds of more sideways to lower price action during the next few weeks.<\/p>\n\n\n\n<p>The good news is that most indices are already in week four of a correction which we need to reset patterns.<\/p>\n\n\n\n<p>The weekly chart of the S&amp;P 500 is at the 20-week EMA and may need to undercut last week&#8217;s low to produce a bottom. This is a guess, as it could dip all the way down to the 40-week MA or more (we never really know where\/when a market will bottom out).<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210929SPX2.png\" alt=\"$SP 500 weekly  \" title=\"\"><\/figure>\n\n\n\n<p>The Nasdaq Composite is also in week four of a new base.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210929COMP2.png\" alt=\"$Nasdaq Comp weekly  \" title=\"\"><\/figure>\n\n\n\n<p>Like the two charts above, $IWP is also in week four and is close to support from the highs of the last base around $112.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210929IWP2.png\" alt=\"$IWP weekly  \" title=\"\"><\/figure>\n\n\n\n<p>A few weeks of sideways to lower action would be ideal to allow for new basing patterns and new leadership.&nbsp;&nbsp;<\/p>\n\n\n\n<p>We sold our only open position, a half position in $SNAP just before the market closed. We stopped out of all other positions earlier in the day. We are now 100% in cash and waiting for new setups to emerge. It&#8217;s a bit too late to short right now, but the short side could be in play on the next bounce.<\/p>\n\n\n\n<p>Per intraday alert, we stopped out $AFRM just below the 10-day EMA. Although we had a decent entry, we did not have enough of a profit buffer to sit through a pullback when the major indices are taking a beating below the 50-day MA. In this tape, it&#8217;s best to exit losers and take profits.<\/p>\n\n\n\n<p>Note that $DDOG closed below the 20-day EMA for the first time since May (change in character). We are out with a small gain. For those still long, a break of Tuesday&#8217;s low would trigger and sell signal and&nbsp;confirm the break of the 20-day EMA.<\/p>\n\n\n\n<p>For those still long a half position in $SNAP, a stop can be placed beneath Tuesday&#8217;s low or stick with the original stop at 72.39.<\/p>\n\n\n\n<p>The model portfolio is 100% in cash and waiting for a follow-through type day to get long.<\/p>\n\n\n\n<p>There are no new official or unofficial setups for Wednesday.<\/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>No new setups<\/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>All major indices we follow sliced through the 50-day MA on higher volume, increasing the odds of more sideways to lower price action during the next few weeks.<\/p>\n<p>The good news is that most indices are already in week four of a correction which we need to reset patterns.<\/p>\n<p>The weekly chart of the S&#038;P 500 is at the 20-week EMA and may need to undercut last week&#8217;s low to produce a bottom. This is a guess, as it could dip all the way down to the 40-week MA or more (we never really know where\/when a market will bottom out).<\/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-18130","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\/18130","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=18130"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18130\/revisions"}],"predecessor-version":[{"id":18134,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18130\/revisions\/18134"}],"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=18130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}