{"id":18900,"date":"2021-05-17T06:48:00","date_gmt":"2021-05-17T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18900"},"modified":"2023-02-24T12:09:25","modified_gmt":"2023-02-24T17:09:25","slug":"swing-trading-stocks-051721","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-051721\/","title":{"rendered":"The Wagner Daily &#8211; S&amp;P 500 Reclaims 20-Day EMA"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210517SPX.png\" alt=\"$ S&amp;P 500 daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; May 17, 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; S&amp;P 500 sell (just broke 20ema), Nasdaq Composite sell<\/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<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210517watch.png\" alt=\"$todays watchlist\" title=\"\"><\/figure>\n\n\n\n<p><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/open.png\" alt=\"$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\/2020\/closed.png\" alt=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No trades triggered.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a id=\"etf\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-52.gif\" alt=\"\" class=\"wp-image-18904\" title=\"Anchor\"><\/figure>\n\n\n\n<p>The S&amp;P 500 bounced back from a sharp selloff and reclaimed the 20-day EMA. If the S&amp;P 500 closes above the 20-day EMA on Monday, then our timing model will shift back to buy mode.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210517SPX.png\" alt=\"$ S&amp;P 500 daily \" title=\"\"><\/figure>\n\n\n\n<p>In last Friday&#8217;s report, we discussed a possible change in character on the weekly chart of the Nasdaq Composite if the price did not hold the 20-week EMA on a closing basis. It did, so a positive sign.<\/p>\n\n\n\n<p>The daily chart isn&#8217;t much to look at, just a chop fest below a sideways 50-day MA, but the consolidation is constructive.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210517ixic.png\" alt=\"$ Nasdaq comp \" title=\"\"><\/figure>\n\n\n\n<p>With growth stocks still out of favor, our focus remains on leading industry groups.<\/p>\n\n\n\n<p>Oil &amp; Gas Exploration stocks are one of the strongest groups in the market and $XOP is the Oil and Gas ETF, which reclaimed the breakout pivot last Friday. Rather than chase the price action, we are looking for a slight pullback near last Thursday&#8217;s high as a buy entry. The stop is beneath last week&#8217;s low. This is a buy limit order, so it can only trigger on weakness.<\/p>\n\n\n\n<p>This is an official trade setup.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210517XOP.png\" alt=\"$XOP daily  \" title=\"\"><\/figure>\n\n\n\n<p>$LUV is also an official trade setup after clearing the downtrend line and reclaiming the 50-day MA on volume. We have a buy limit order to enter on slight weakness, looking for the price to retrace a bit of last Friday&#8217;s range.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210517LUV.png\" alt=\"$ LUV daily \" title=\"\"><\/figure>\n\n\n\n<p>$CF is not an official setup but is potetnially in play over last Friday&#8217;s high. The current pullback has been orderly with the price chopping around on lighter volume. Watch out for a higher open on Monday that could lead to a false trigger on the open.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210517CF.png\" alt=\"  $CF daily  \" title=\"\"><\/figure>\n\n\n\n<p><strong>Unofficial Setups<\/strong> &#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$CF &#8211; buy at 55.01<\/li>\n\n\n\n<li>$SCCO &#8211; 77.80 (pullback to 20ema)<\/li>\n\n\n\n<li>$CSTM &#8211; buy at 17.30 (tight ranged inside day)<\/li>\n\n\n\n<li>$CMC &#8211; buy at 32.30<\/li>\n\n\n\n<li>$EOG &#8211; triggered buy entry last Friday over prior day&#8217;s high (could enter on slight weakness)<\/li>\n\n\n\n<li>$ASO &#8211; buy at 36.20<\/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 bounced back from a sharp selloff and reclaimed the 20-day EMA. If the S&#038;P 500 closes above the 20-day EMA on Monday, then our timing model will shift back to buy mode.<\/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-18900","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\/18900","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=18900"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18900\/revisions"}],"predecessor-version":[{"id":18906,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18900\/revisions\/18906"}],"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=18900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}