Deron Wagner is the Founder and Head Trader of both Morpheus Capital LP, a U.S. hedge fund, and Morpheus Trading Group, a trader education firm launched in 2001 that provides daily technical analysis of the leading ETFs and stocks.
Mr. Wagner teaches his trading methodology to nearly 3,000 subscribers of his free weekly newsletter, The Wagner Weekly, and is also well-known in the trading community for his subscription-based newsletter, The Wagner Daily, which provides daily technical analysis of ETFs and educational broad market commentary.
In addition to publishing his daily commentary and analysis through Morpheus Trading Group, his work appears daily on several popular financial web sites.
Mr. Wagner also appears on his best-selling video, Sector Trading Strategies (Marketplace Books, June 2002), and is co-author of both The Long-Term Day Trader (Career Press, April 2000) and The After-Hours Trader (McGraw Hill, August 2000). He is also a regular contributor to Stock Futures and Options magazine, and has also written for Active Trader magazine.
Past television appearances include CNBC, ABC, and Yahoo! FinanceVision. He is a frequent guest speaker at various trading and financial conferences around the world and can be reached by sending an e-mail to deron@morpheustrading.com or by visiting MorpheusTrading.com.
The Wagner Daily ETF Report For July 30
Until the S&P 500 clears the 200-day moving average, traders can expect more of the same wide and choppy price action.
The Wagner Daily ETF Report For July 28
A single round of churning, or even distribution, is not damaging enough to kill a rally, but it's still noteworthy for the bulls.
The Wagner Daily ETF Report For July 27
A sudden, sharp retracement lower by the S&P 500 after probing beyond its 200-day MA would not at all be surprising. However, a convincing move above the June high would cause the S&P to reverse to an intermediate-term uptrend.
The Wagner Daily ETF Report For July 26
In raging bull markets, buying breakouts above bases of consolidation can be a very profitable strategy. But in less convincing markets, such as the one we're in now, a lower risk strategy for buy entry may be to wait for strong ETFs to subsequently pull back to near-term support levels.
The Wagner Daily ETF Report For July 23
Near-term sentiment is certainly improving, as indicated by yesterday's technical breaks of resistance in the major indices. Leading individual stocks are also starting to break out.
The Wagner Daily ETF Report For July 22
In the very near term, yesterday's intraday highs of the major indices are pivotal levels of resistance. If stocks get above yesterday's highs, preferably on higher volume, it would cause most of the main stock market indexes to reclaim their 50-day moving averages, perhaps improving near-term bias of the overall market.
The Wagner Daily ETF Report For July 21
Due to yesterday's bullish, higher volume reversal, near-term momentum could easily enable the S&P and Nasdaq to move back above their 50-day moving averages.
The Wagner Daily ETF Report For July 20
With the S&P 500 undergoing a failed breakout in mid-June, followed by a failed breakdown in early July, it may be wise to not harbor any strong opinions regarding broad market direction right now.
The Wagner Daily ETF Report For July 19
Deron Wagner's focus will be on ETFs with a low correlation to broad market direction, or at least specific industry sectors exhibiting relative strength (for long positions) or relative weakness (for short sales).
Larry Connors is a 22-year veteran of Wall Street. He was a vice president with Donaldson Lufkin and Jenrette, before starting his own trading and information companies. He is CEO and founder of TradingMarkets.com and is author of numerous books on trading including Street Smarts (with Linda Raschke) which was selected by Stocks and Commodities Magazine as one of the classics of the past century.
Deron Wagner is the Founder and Head Trader of both Morpheus Capital LP, a U.S. hedge fund, and Morpheus Trading Group, a trader education firm launched in 2001 that provides daily technical analysis of the leading ETFs and stocks.