{"id":17800,"date":"2021-11-29T06:48:00","date_gmt":"2021-11-29T11:48:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=17800"},"modified":"2023-02-17T06:35:30","modified_gmt":"2023-02-17T11:35:30","slug":"swing-trading-stocks-112921","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/swing-trading-stocks-112921\/","title":{"rendered":"The Wagner Daily &#8211; Market Sell Signal: Defense Mode"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211129IXIC.png\" alt=\"Nasdaq Composite daily\" title=\"\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Wagner Daily &#8211; November 29, 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>MTG Market Timing Model &#8211; SELL (due to close below 20-day EMA on Nasdaq Comp.&nbsp;&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 (potential trade entries):<\/em><\/strong><\/a><\/p>\n\n\n\n<p><img decoding=\"async\" alt=\"$todays watchlist\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/watch.png\" title=\"\"><br \/><br \/><a><strong><em>open positions:<\/em><\/strong><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211129open.png\" alt=\"$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\/2021\/211129closed.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>Added to $NVDA on a pullback.<\/li>\n\n\n\n<li>$PSTG buy limit order triggered.<\/li>\n\n\n\n<li>Per intraday alert, sold 1\/2 of $PSTG.<\/li>\n<\/ul>\n\n\n\n<p><strong><em><strong><em><strong><em><a><strong><em>Commentary:<\/em><\/strong><\/a><\/em><\/strong><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n<p>Last Friday&#8217;s close below the 20-day EMA in the Nasdaq Composite and the S&amp;P 500 triggered a sell signal in our market timing model. With the model on a sell, we believe it&#8217;s best to play defense and tighten up stops to protect gains \/ minimize losses as the odds have increased for further weakness.<\/p>\n\n\n\n<p>The break of the 20-day EMA suggests further weakness but anything can happen. We are still leaning towards a fairly short-term pullback followed by higher prices in December, but that isn&#8217;t a prediction as we know anything can happen.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/211129IXIC.png\" alt=\"Nasdaq Composite daily\" title=\"\"><\/figure>\n\n\n\n<p>Our weekend scans did not produce&nbsp;actionable buy setups in stocks with traditional basing patterns such as cup with handles, flat bases, and double bottoms.&nbsp; This shouldn&#8217;t come as much of a surprise, as the market was a bit extended prior to last week&#8217;s selloff with many leading stocks pulling back in after a strong run.<\/p>\n\n\n\n<p>Here is a small list of stocks we are monitoring for an entry should conditions improve:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$LCID $U $RBLX $MTTR $ENPH $TSLA $NVDA $AMD $GXO $ON $ONON $SLAB $PUBM $TTD<\/li>\n<\/ul>\n\n\n\n<p>There are no buy setups on Monday&#8217;s watchlist. Buy limit orders in $PSTG and $NVDA triggered last Friday. Because of the ugly action in the averages, we sold 1\/2 of $PSTG (per intraday alert) near breakeven and have a very tight stop for the remaining 1\/4 position.&nbsp;&nbsp;<\/p>\n\n\n\n<p>When conditions quickly turn sour, it&#8217;s best to kill losing or marginal trades first and then decide how to handle winners.&nbsp;&nbsp;<\/p>\n\n\n\n<p>We are going with fairly tight stops in all open positions, as we can always re-enter if\/when conditions improve. For those who would like to be a bit more patient with $ENPH or $NVDA, consider selling partial size at the stops listed above and cut the rest on a close more than 3% below the 20-day EMA on the daily chart.<\/p>\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<\/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>Last Friday&#8217;s close below the 20-day EMA in the Nasdaq Composite and the S&#038;P 500 triggered a sell signal in our market timing model. With the model on a sell, we believe it&#8217;s best to play defense and tighten up stops to protect gains \/ minimize losses as the odds have increased for further weakness.<\/p>\n<p>The break of the 20-day EMA suggests further weakness but anything can happen. We are still leaning towards a fairly short-term pullback followed by higher prices in December, but that isn&#8217;t a prediction as we know anything can happen.<\/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-17800","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\/17800","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=17800"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17800\/revisions"}],"predecessor-version":[{"id":17838,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/17800\/revisions\/17838"}],"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=17800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=17800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=17800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}