Latest News

The Wagner Daily – Swing Trading the Short Side: $ABNB and $MTCH’s Bounce into Declining 20-day EMAs

The Wagner Daily – January 6, 2023

Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).

Subscribe now 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.

Just drop us a comment with any questions or comments–we’d love to hear from you!

MTG Market Timing Model –  Sell (as of 12/15/22) due to a break of 20ema in the S&P 500

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&P 500 or Nasdaq Composite.

today’s watchlist along with open and closed positions:

 

position notes:

No trades triggered.

Commentary: 

Nasdaq 100 ETF $QQQ closed below support for the second time in two weeks.  In late December, the close below support was a one day shakeout.  Given that the price action has failed to reclaim the declining 8-day EMA,  the odds are favorable for a test of the October low.  

The S&P 500 is still holding support at 3,800 but is unable to close above the declining 8-day EMA and hold.    

Energy stocks are struggling to hold on to leadership status.  $XLE has yet to reclaim its downtrend line or the 50-day MA.  

If big cap leadership within the sector such as $SLB fails to hold up then energy could see some heavy selling during the first half of 2023.

There are no new setups for Friday.   

On the short side, $ABNB and $MTCH are bouncing into the declining 20-day EMAs after a false breakdown beneath the lows of the base.

Both are potentially in play on the short side within the next few days. 

Unofficial Setups 

Longs – watching $SLB $TDW $BOX $CPRX  

Shorts – watching $ABNB $MTCH

See you in the Live Trading Room 

Rick 

Click here to view this week’s watchlist in google sheets

Start my Wagner Daily membership now to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. The Wagner Daily PRO includes live swing trader room for daily, real-time trade ideas and powerful stock trading education.

The post The Wagner Daily – Swing Trading the Short Side: $ABNB and $MTCH’s Bounce into Declining 20-day EMAs appeared first on Swing Trading Blog | Trading Strategy Articles | Trading Tips.

The Wagner Daily – Swing Trading the Short Side: $ABNB and $MTCH’s Bounce into Declining 20-day EMAs was first posted on January 6, 2023 at 6:48 am.
©2022 “Swing Trading Strategy | Crypto Signals | Stock Signals’;“. Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at deron2@morpheustrading.com

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News

Latest News

Powell to Deliver

March 22, 2023 (Investorideas.com Newswire) S&P 500 really did run higher regardless of further FRC ...