{"id":18412,"date":"2021-08-04T06:48:00","date_gmt":"2021-08-04T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18412"},"modified":"2023-02-22T06:39:28","modified_gmt":"2023-02-22T11:39:28","slug":"swing-trading-stocks-080421","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-080421\/","title":{"rendered":"The Wagner Daily &#8211; Nasdaq, S&amp;P Rebound with Volume"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210804IXIC.png\" alt=\"$Nasdaq daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; August 4, 2021<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p><a><strong><em>MTG Market Timing Model &#8211; buy mode (but cautious)&nbsp;<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a id=\"watchlist\"><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210804watch.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\/210804open.png\" alt=\"$open positions\" title=\"\"><\/figure>\n\n\n\n<p><strong><em>closed positions:<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210804closed.png\" alt=\"$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 half of $SNAP.<\/li>\n\n\n\n<li>Stopped out of the $NVDA add.<\/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>The $Nasdaq Composite and S&amp;P 500 recovered from a weak morning session after finding support at\/near the 20-day EMA. Both indices closed near the highs of the day with bullish reversal candles. Volume increased on both the NYSE and Nasdaq as well.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210804IXIC.png\" alt=\"$Nasdaq daily\" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210804spx.png\" alt=\"$S&amp;P 500 daily\" title=\"\"><\/figure>\n\n\n\n<p>Semiconductors ($SMH), metal &amp; mining ($XME), and homebuilders ($XHB) are a few of the top-performing groups in terms of percent gain since the $SPY reversed off the 50-day MA on 7\/20.<\/p>\n\n\n\n<p>$AMD is a beast and the top dog, though $NVDA at some point should resume its strong uptrend after a successful first touch of the 10-week MA.&nbsp;&nbsp;&nbsp;There are a few semis that are still actionable such as $KLAC which is an official buy setup for Wednesday.&nbsp; We like the big volume gap up through resistance at $330 and Tuesday&#8217;s tight-ranged session on lighter volume. We have a buy stop for partial size over Tuesday&#8217;s high. The add is over the two-day high, which if it clears, should lead to a move to new highs.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210804KLAC.png\" alt=\"$KLAC daily\" title=\"\"><\/figure>\n\n\n\n<p>Steel stocks have moved off base lows with strong price and volume action ($NUE, $CLF, $X, $MT, $STLD are a few). Of the handful moving higher, we like $MT for a buy entry over Tuesday&#8217;s high after a short-term pause.&nbsp; $MT is already at new highs after an impressive two-week run of heavier than&nbsp;average volume during the advance off the lows of the base.&nbsp;<\/p>\n\n\n\n<p>The protective stop is just below the 10-day EMA.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210804MT.png\" alt=\"$MT daily\" title=\"\"><\/figure>\n\n\n\n<p>Although the timing model is on a buy signal, market conditions are not ideal for our style of trading which is focused on liquid growth stocks.&nbsp; Growth stocks are holding up but haven&#8217;t led the market higher as&nbsp;they did in June.&nbsp; Market averages continue to climb and there are pockets of strength to take advantage of, but overall, it&#8217;s not the type of market where we can load up on long exposure. Conditions can change quickly, so our analysis is always one day at a time.<\/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>$SNAP &#8211; if 10ema on the daily&nbsp;holds, then look for price to regain 20ema on the hourly.<\/li>\n\n\n\n<li>$FRHC &#8211; buy at 64.10 (breakout from tight range at 10ema check for eps)<\/li>\n\n\n\n<li>$DOCU &#8211; in play if price opens at 295 or higher and holds (trading in the wick)<\/li>\n\n\n\n<li>$CRWD &#8211; same concept as $DOCU, if it opens at 244-255 or higher and holds it would be trading in the wick\u00a0<\/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 $Nasdaq Composite and S&#038;P 500 recovered from a weak morning session after finding support at\/near the 20-day EMA. Both indices closed near the highs of the day with bullish reversal candles. Volume increased on both the NYSE and Nasdaq as well.<\/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-18412","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\/18412","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=18412"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18412\/revisions"}],"predecessor-version":[{"id":18416,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18412\/revisions\/18416"}],"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=18412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}