{"id":18970,"date":"2021-05-07T06:48:00","date_gmt":"2021-05-07T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=18970"},"modified":"2023-02-27T02:13:06","modified_gmt":"2023-02-27T07:13:06","slug":"swing-trading-stocks-05072021","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-05072021\/","title":{"rendered":"The Wagner Daily &#8211; Tight Action: $XOP"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210507XOP.png\" alt=\"$XOP daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; May 7, 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>market timing model: S&amp;P 500 buy&nbsp;<\/em><\/strong><em>&#8211;&nbsp; &nbsp;&nbsp;<\/em><\/a><\/p>\n\n\n\n<p>Our&nbsp;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<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><a><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\/210507watch.png\" alt=\"$todays watchlist\" title=\"\"><\/figure>\n\n\n\n<p><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210507open4.png\" alt=\"$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>Canceled the $LESL buy setup.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-60.gif\" alt=\"\" class=\"wp-image-18972\" title=\"Anchor\"><\/figure>\n\n\n\n<p><strong>Note<\/strong> &#8211; There is no video tonight, but will be back next Friday. For those new to our service, a short video replaces the commentary section of our report every Friday.<\/p>\n\n\n\n<p>The S&amp;P 500 closed with a bullish reversal candle after bouncing off support of the 20-day EMA. Can the index move to new highs from here and hold, or will the price need more time to digest the last advance?<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210507SPX.png\" alt=\"$ 500 daily \" title=\"\"><\/figure>\n\n\n\n<p>For the third day in row, the Nasdaq held up at the 50-day MA and may be due for a bounce. Tough to get excited about the Nasdaq, as there isn&#8217;t much leadership left and resistance is only 1.3% to 1.8% higher.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210507NASD.png\" alt=\"$Nasdaq COMP \" title=\"\"><\/figure>\n\n\n\n<p>There is one new official setup for Friday in the energy ETF $XOP.&nbsp; We already have some exposure with $XEC but wanted a bit more.<\/p>\n\n\n\n<p>We like the tight action at the 50-day MA after clearing the downtrend line. Our buy entry is over the high of Thursday&#8217;s bullish reversal candle and the high of 4\/29 (the swing high). We have split stops, with half below Thursday&#8217;s low and the other half below the swing low.&nbsp;&nbsp;<\/p>\n\n\n\n<p>For those who are a bit more aggressive, the ETF $GUSH is also buyable using Thursday&#8217;s low as a stop.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210507XOP.png\" alt=\"$XOP daily \" title=\"\"><\/figure>\n\n\n\n<p>Although $KSS has struggled to follow through since triggering a buy entry in the model portfolio, the price and volume action has been constructive. We especially like the dry-up in volume this week with Thursday&#8217;s volume possibly the lightest of the year. Looking for $KSS to hold the 50ma and eventually clear $63.&nbsp; We have a bit of time to see some progress before earnings on 5\/20.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210507KSS.png\" alt=\"$KSS 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>$DLTR &#8211; downtrend line break, buy at 116.00<\/li>\n\n\n\n<li>$OMF &#8211; buy at 56.45 (bullish reversal candle)<\/li>\n\n\n\n<li>$CF &#8211; buy limit at 51.10 (big move Thursday, looking for an entry on weakness)<\/li>\n\n\n\n<li>$SQM &#8211; buy at 54.01 (bullish reversal candle that could lead to downtrend line break)<\/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>There is one new official setup for Friday in the energy ETF $XOP.\u00a0 We already have some exposure with $XEC but wanted a bit more.<\/p>\n<p>We like the tight action at the 50-day MA after clearing the downtrend line. Our buy entry is over the high of Thursday&#8217;s bullish reversal candle and the high of 4\/29 (the swing high). We have split stops, with half below Thursday&#8217;s low and the other half below the swing low.\u00a0\u00a0<\/p>\n<p>For those who are a bit more aggressive, the ETF $GUSH is also buyable using Thursday&#8217;s low as a stop.<\/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-18970","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\/18970","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=18970"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18970\/revisions"}],"predecessor-version":[{"id":18976,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/18970\/revisions\/18976"}],"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=18970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=18970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=18970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}