{"id":18936,"date":"2021-05-11T06:48:00","date_gmt":"2021-05-11T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18936"},"modified":"2023-02-24T12:50:39","modified_gmt":"2023-02-24T17:50:39","slug":"swing-trading-stocks-051121","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-051121\/","title":{"rendered":"The Wagner Daily &#8211; Ugly Reversal Day in S&amp;P 500"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210511SPY.png\" alt=\"$S&amp;P 500 daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; May 11, 2021<\/h2>\n\n\n\n<p><em>Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Subscribe now<\/a><\/strong> for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record. <\/em><\/p>\n\n\n\n<p><em>Just drop us a comment with any questions or comments&#8211;we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-56.gif\" alt=\"\" class=\"wp-image-18940\" title=\"Anchor\"><\/figure>\n\n\n\n<p><a><strong><em>MTG Timing Model &#8211; S&amp;P 500 buy, Nasdaq Composite sell<\/em><\/strong><\/a><\/p>\n\n\n\n<p>Our timing model was designed to keep our trades in line with the prevailing market trend, not to call tops or catch bottoms in S&amp;P 500 or Nasdaq Composite.<\/p>\n\n\n\n<p><a id=\"watchlist\"><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" alt=\"$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\/210511open.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-57.gif\" alt=\"\" class=\"wp-image-18942\" title=\"Anchor\"><\/figure>\n\n\n\n<p>An ugly reversal day in the S&amp;P 500 and in leading stocks could lead to further weakness if the 20-day EMA does not hold. If the S&amp;P is in a rising channel with tight swings, then low-risk buy points off support should work better than buying breakouts (in individual names).&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210511SPY.png\" alt=\"$S&amp;P 500 daily \" title=\"\"><\/figure>\n\n\n\n<p>The Nasdaq&#8217;s break of the 50-day MA on volume is a concern, as price action can turn ugly in a hurry when below the 50ma. Anything can happen price-action-wise, but the odds have increased for further weakness.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210511COMP.png\" alt=\"$ Nasdaq comp \" title=\"\"><\/figure>\n\n\n\n<p>Our main concern right now is the S&amp;P 500 and current leadership. Where will money flow if $XLF, $XLB, $IYT, and $NAIL are too extended and in need of 2-3 weeks of rest and the S&amp;P 500 loses the 20-day EMA? Anything can happen, but we doubt back into growth, as there are no clear signs of industry group strength there.<\/p>\n\n\n\n<p>Given the sharp reversal action in $CLF and $FCX, we are forced to play defense and preserve some gains. Not ideal, but we are not in an A+ rally with growth stocks leading the way.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210511CLF.png\" alt=\"$CLF daily \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210511FCX.png\" alt=\"$FCX daily \" title=\"\"><\/figure>\n\n\n\n<p>Note that we have break-even stops on half the position in energy trades $XOP and $XEC. The stops on the remaining half positions are beneath the 2-day low.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210511XEC.png\" alt=\"$XEX 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>None &#8211; After Monday&#8217;s reversal action, there isn&#8217;t much out there in terms of actionable 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>An ugly reversal day in the S&#038;P 500 and in leading stocks could lead to further weakness if the 20-day EMA does not hold. If the S&#038;P is in a rising channel with tight swings, then low-risk buy points off support should work better than buying breakouts (in individual names).\u00a0\u00a0<\/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-18936","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\/18936","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=18936"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18936\/revisions"}],"predecessor-version":[{"id":18944,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18936\/revisions\/18944"}],"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=18936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}