{"id":16054,"date":"2022-12-07T06:48:00","date_gmt":"2022-12-07T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=16054"},"modified":"2023-02-03T05:16:20","modified_gmt":"2023-02-03T10:16:20","slug":"swing-trading-stocks-120722","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-120722\/","title":{"rendered":"The Wagner Daily &#8211; $SMCI Watch: Waiting for 20-day EMA Support"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221207SMCI.png\" alt=\"$SMCI daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; December 7, 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> 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;&nbsp; Buy mode from 10\/21\/22 signal date, but S&amp;P 500 below 20-day ema which is a potential sell signal&nbsp;<\/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><strong><em>today&#8217;s watchlist along with open and closed positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221207list.png\" title=\"\">&nbsp;<br \/><br \/><a><strong><em>position notes:<\/em><\/strong><\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Back to 100% cash.&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:&nbsp;<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>For the second day in a row, stocks sold off on a pick-up in volume.<\/p>\n\n\n\n<p>The S&amp;P 500 lost the 20-day EMA with back-to-back days of distribution (higher volume selling).&nbsp; Any bounce in the S&amp;P will have quite a bit of resistance to work through, which increases the odds of a touch of the 50-day MA.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221207SPX.png\" alt=\"S&amp;P 500 daily\" title=\"\"><\/figure>\n\n\n\n<p>In yesterday&#8217;s report we mentioned the&nbsp;following, &#8220;<em>Given the lack of follow-through in the market, we are playing a bit more defense today. Note the new stops above<\/em>.&#8221;&nbsp;<\/p>\n\n\n\n<p>Tuesday&#8217;s selling followed through on Monday&#8217;s weakness and forced the model portfolio back into a 100% cash position.&nbsp;<\/p>\n\n\n\n<p>There are a handful of stocks out there still holding up such as $PODD, $DXCM, or $TMDX, but even these stocks aren&#8217;t making much progress after a few weeks of higher prices in the main averages.<\/p>\n\n\n\n<p>While we have seen decent buy setups emerge as of late, there is almost <strong>no follow-through<\/strong> after the initial thrust-up, which makes for ugly reward-to-risk ratios.&nbsp; It&#8217;s tough to set a stop 3% to 7% from the entry when stocks are moving just 3-7% higher before reversing lower.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Oil stocks have offered the best reward-to-risk ratios this year as they have been able to buck the trend of the market, but this sector is in distribution mode now.&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>There are no new official setups for Wednesday.&nbsp; We will send an intraday alert if any action is taken.&nbsp;<\/p>\n\n\n\n<p>$SMCI is tops on our watchlist, but we are waiting for a 2-3 week pause that holds up around the 20-day EMA.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/221207SMCI.png\" alt=\"$SMCI daily\" title=\"\"><\/figure>\n\n\n\n<p><strong>Unofficial Watchlist<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Longs &#8211;&nbsp; just watching $PODD, $DXCM, $CEG, $GFS, $PSN, $TMDX&nbsp;<\/li>\n\n\n\n<li>Shorts &#8211; none&nbsp;<\/li>\n<\/ul>\n\n\n\n \n\n\n\n\n\n\n\n<p>Rick&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/docs.google.com\/spreadsheets\/d\/1NqgrdjU9b5BoBV7j2BaIvp8y8P3VfAuUyywfm3Mcqxg\/edit?usp=sharing\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Click here to\u00a0view this week&#8217;s watchlist in google sheets<\/strong><\/a><\/p>\n\n\n\n<p class=\"has-light-green-cyan-background-color has-background\"><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">Start my Wagner Daily membership now<\/a><\/strong> to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. <strong><a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noreferrer noopener\">The Wagner Daily PRO<\/a> <\/strong>includes <strong>live swing trader room<\/strong> for daily, real-time trade ideas and powerful stock trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>$SMCI is tops on our watchlist, but we are waiting for a 2-3 week pause that holds up around the 20-day EMA.<\/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-16054","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\/16054","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=16054"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16054\/revisions"}],"predecessor-version":[{"id":16058,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/16054\/revisions\/16058"}],"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=16054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=16054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=16054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}