The Wagner Daily – April 1, 2022
Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).
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MTG Market Timing Model – BUY as of 3/16 close
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 (potential trade entries):
closed positions:
position notes:
- Per intraday alert, bought $GFI.
After two days of stalling at resistance from prior highs, the selling picked up on Thursday with all major indexes down 1% or more.
The Nasdaq 100 stalled at the 200-day MA and is now closing in on the rising 8-day EMA. Let’s see how this index holds up on Friday as it closes out the week and the first quarter.
After stopping out of a few positions on Wednesday, we closed out the remaining trades and went to cash by the close. The decision to exit worked out well as the selling accelerated on Thursday.
Per intraday alert, bought gold stock $GFI based on Wednesday’s bullish reversal candle off the 20-day EMA. The ideal entry was over Tuesday’s high, but our entry over Wednesday’s high is still valid as the price confirmed with a close back above the 20-day EMA following a shakeout.
Note that we lowered the stop from $15.00 to $14.89.
$GFI closed off the highs of the day with the market. Let’s see if the price can bounce back on Friday and hold above Thursday’s close.
$SEDG is not an official setup but has held up well the past few days at the 20-day EMA after a second false breakout.
A move through Thursday’s high is the next entry point. Not an official setup.
There are no new setups for Friday. Our short-term game plan is to lay low and see what develops during the next day or two. There isn’t a whole lot to get excited about in growth, as most leading stocks are commodity-based, which have been extremely volatile the past few weeks.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $SEDG $GTLB $TRTN $DAR – watching $CARG for an entry
- Shorts –
See you in the chat room,
Rick
This list is a good starting point for monitoring the health of the market for those who have limited time.
https://morpheustrading.com/services/swing-trade-alerts
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