{"id":11940,"date":"2022-03-24T03:30:00","date_gmt":"2022-03-24T07:30:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=11940"},"modified":"2022-04-16T06:27:29","modified_gmt":"2022-04-16T10:27:29","slug":"swing-trading-stocks-03-24-22","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-03-24-22\/","title":{"rendered":"The Wagner Daily &#8211; Short Selling the Financial Sector ($XLF)"},"content":{"rendered":"\n<figure class=\"wp-block-image is-resized\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324XLF2.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324XLF2.png\" alt=\"$XLF daily\" width=\"720\" height=\"643\" title=\"\"><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; March 24, 2022<\/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>&nbsp;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\u2013we\u2019d love to hear from you!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p><a target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>MTG Market Timing Model &#8211;&nbsp; BUY as of 3\/16 close<\/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 rel=\"noreferrer noopener\" target=\"_blank\"><strong><em>today&#8217;s watchlist (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324watch.png\" alt=\"$todays watchlist\" title=\"\"><br \/><em>&nbsp;<\/em><br \/><a rel=\"noreferrer noopener\" target=\"_blank\"><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324open.png\" alt=\"$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=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324closed.png\" alt=\"$closed positions\" title=\"\"><\/figure>\n\n\n\n<p><strong>po<\/strong><strong>sition notes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>$BROS sell stop triggered and we out.&nbsp;<\/li><\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a rel=\"noreferrer noopener\" target=\"_blank\"><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>The sharp rally off the lows ran into some selling on Wednesday though total volume was lighter on both exchanges. Let&#8217;s see how the major indexes hold up during the next few days.<\/p>\n\n\n\n<p>S&amp;P 500:<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324SPX.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324SPX.png\" alt=\"$SP 500 daily\" width=\"720\" height=\"532\" title=\"\"><\/a><figcaption><em>Press chart to view full-size<\/em><\/figcaption><\/figure>\n\n\n\n<p>Wednesday&#8217;s selling stopped us out of $BROS and saw $GFS close back below the breakout pivot. $BROS could be back in play soon if a new buy entry develops Friday or early next week.<\/p>\n\n\n\n<p>Financials were relatively weak on Thursday with $XLF closing back below the 50-day MA with a -1.9% loss. Since the real bodies of Monday and Wednesday did not touch the real body of Tuesday, it&#8217;s like a one-day island reversal pattern.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324XLF2.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324XLF2.png\" alt=\"$XLF daily\" width=\"720\" height=\"643\" title=\"\"><\/a><\/figure>\n\n\n\n<p>Rather&nbsp;sell short $XLF we going long $FAZ (Direxion 3x bear inverted ETF) with a buy limit order, looking for a slight pullback from Wednesday to trigger our entry.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324FAZ.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324FAZ.png\" alt=\"$FAZ  daily\" width=\"707\" height=\"522\" title=\"\"><\/a><\/figure>\n\n\n\n<p>$ARCH is an unofficial setup above the two-day high.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324ARCH.png\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/220324ARCH.png\" alt=\"$ARCH  daily\" width=\"707\" height=\"522\" title=\"\"><\/a><\/figure>\n\n\n\n<p>For those who are new to the service, our system is based on trading growth stocks that can explode higher in a short period of time&#8230;when conditions are ideal. For most of 2022, conditions have not been ideal, so we have been playing the short side when setups are there while waiting for a new buy signal. Below are a few things we are looking for in a buy signal.<\/p>\n\n\n\n<p>Keys to market turning bullish:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Buy signal in the timing model, such as a FTD (follow through day) or reclaim of 21-day EMA<\/li><li>Stocks begin to breakout on volume and hold&#8230; indexes hold the 21-day EMA<\/li><li>Number of stocks making new 52-week highs vs 52-week lows enters into positive territory<\/li><li>After the first wave of breakouts, new setups emerge<\/li><\/ul>\n\n\n\n<p><strong>Unofficial Setups<\/strong>&nbsp;&#8211; For experienced traders only, no guidance is given for these setups.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>\u00a0Longs &#8211; $ARCH buy at 153.00 watching $LMT $SGRY\u00a0<\/li><li>\u00a0Shorts &#8211;\u00a0\u00a0<\/li><\/ul>\n\n\n\n<p>Press HERE (link restricted to paid members) to view this week\u2019s stock watchlist, an excellent starting point for monitoring the health of the market and finding the best stocks for swing trading<em>.<\/em><\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membershiip now<\/a><\/strong>&nbsp;to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow.&nbsp;<strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a>&nbsp;<\/strong>includes&nbsp;<strong>live swing trader room<\/strong>&nbsp;for daily, real-time trade ideas and powerful stock trading education.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financials were relatively weak on Thursday with $XLF closing back below the 50-day MA with a -1.9% loss. Since the real bodies of Monday and Wednesday did not touch the real body of Tuesday, it&#8217;s like a one-day island reversal pattern.<\/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-11940","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\/11940","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=11940"}],"version-history":[{"count":5,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/11940\/revisions"}],"predecessor-version":[{"id":12086,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/11940\/revisions\/12086"}],"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=11940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=11940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=11940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}