{"id":19008,"date":"2021-05-04T06:48:00","date_gmt":"2021-05-04T10:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=19008"},"modified":"2023-02-27T02:29:06","modified_gmt":"2023-02-27T07:29:06","slug":"swing-trading-stocks-05042021-2","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-05042021-2\/","title":{"rendered":"The Wagner Daily &#8211; Bullish Momentum: $NET"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503NET.png\" alt=\"$NET  daily \" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; May 3, 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-table\"><table><tbody><tr><td><strong>quick jump to:<\/strong><a href=\"#watchlist\">today&#8217;s watchlist<\/a><a href=\"#positions\">open &amp; closed positions<\/a><a href=\"#etf\">market commentary<\/a><\/td><td><strong>resources:<\/strong><a href=\"http:\/\/www.morpheustrading.com\/wagnerdailyguide-new.htm\" target=\"_blank\" rel=\"noreferrer noopener\">subscriber guide<\/a><a href=\"http:\/\/www.morpheustrading.com\/best-swing-trading-strategy\/\" target=\"_blank\" rel=\"noreferrer noopener\">our trading strategy<\/a><a href=\"http:\/\/www.morpheustrading.com\/blog\" target=\"_blank\" rel=\"noreferrer noopener\">blog<\/a><\/td><td><strong>handy links:<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><a><strong><em>S&amp;P 500 buy, Nasdaq Composite buy<\/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=\"$todays watchlist\" title=\"\"><\/figure>\n\n\n\n<p><br \/><a id=\"positions\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503open2.png\" alt=\"$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>Note the new stop in $CPE. If you sold at $39.11 on Friday, no problem, no need to get back in.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a id=\"etf\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2023\/02\/image-65.gif\" alt=\"\" class=\"wp-image-19010\" title=\"Anchor\"><\/figure>\n\n\n\n<p>The S&amp;P 500 gapped lower on Friday, which was a negative response to Thursday&#8217;s bearish hanging man candle. A break of the two-day low that holds would suggest further downside. There is a decent amount of support about 1% lower.<\/p>\n\n\n\n<p>A test of the top trendline in the Emini S&amp;P 500 futures is about 1% away.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503FUT.png\" alt=\"$emini S&amp;P 500 daily \" title=\"\"><\/figure>\n\n\n\n<p>The 20-day EMA on the S&amp;P 500 index is a little over 1% away.&nbsp; An undercut of the 4\/20 low is another level of support, roughly -1.5% lower.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503SPX.png\" alt=\"$s&amp;p 500  daily \" title=\"\"><\/figure>\n\n\n\n<p>Last week&#8217;s failed breakout attempt in the Nasdaq Composite could lead to a shakeout below the 20-day EMA or possibly an undercut of the last swing low. The index has been in trend mode since reclaiming the 50-day MA but has yet to break out to new highs.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503IXIC.png\" alt=\"$s&amp;p 500  daily \" title=\"\"><\/figure>\n\n\n\n<p>Growth continues to struggle. Note the RS line of the IBD 8585 growth index vs SPY, which is sitting near the lows&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/2105038585.png\" alt=\"$IBD 8585 daily \" title=\"\"><\/figure>\n\n\n\n<p>$SE and $ALGN were a few failed breakout attempts in growth last week.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503SE.png\" alt=\"$SE daily \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503LGN.png\" alt=\"$ALGN  daily \" title=\"\"><\/figure>\n\n\n\n<p>$NET is one of the only stocks in the growth space moving higher on bullish price and volume action but reports earnings on 5\/6. We are not buying $NET but will monitor the action closely this week.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503NET.png\" alt=\"$NET  daily \" title=\"\"><\/figure>\n\n\n\n<p>So what groups are working? We did notice strength in oil last week which led to an entry in $CPE. The price followed through nicely from our buy point but reversed quickly. Note the new stop in the open positions section. In Friday&#8217;s report, $CPE&#8217;s stop was incorrectly listed as 39.11 which was the closing price (we apologize for the error). For those who are already out at 39.11, there is no need to re-enter.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503CPE.png\" alt=\"$CPE daily \" title=\"\"><\/figure>\n\n\n\n<p>Can energy stocks hold on to recent momentum?<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503WLL.png\" alt=\"$WLL daily \" title=\"\"><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503TDR.png\" alt=\"$MTDR  daily \" title=\"\"><\/figure>\n\n\n\n<p>$CIT is potentially in play over the high of last Friday&#8217;s inside day if the S&amp;P 500 holds up. This is not an official setup.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/210503CIT.png\" alt=\"$CIT 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<p>Not much going on&#8230; will post more setups this week as they develop<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$CIT &#8211; buy at 53.96<\/li>\n\n\n\n<li>$KSS &#8211; buy at 61.46<\/li>\n\n\n\n<li>Watching &#8211; $NET $SNAP $SLQT $NARI<\/li>\n<\/ul>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$NET is one of the only stocks in the growth space moving higher on bullish price and volume action but reports earnings on 5\/6. We are not buying $NET but will monitor the action closely this week.<\/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-19008","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\/19008","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=19008"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/19008\/revisions"}],"predecessor-version":[{"id":19014,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/19008\/revisions\/19014"}],"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=19008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=19008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=19008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}