The Wagner Daily – January 12, 2022
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
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:
- No trades triggered.
Day two of a new rally attempt is in the books with another day of solid gains for most broad market averages.
The S&P 500 reclaimed the 50-day MA and closed just above the 20-day EMA on lighter volume. The close was just below the 10-day EMA and in between the 50% and 61.8% fibo levels. Let’s see how the price holds up at resistance.
The Nasdaq 100 is still below the 10, 20, and 50-day MAs, with resistance from the 50% fibo and declining 10ema in the $387-388 area.
Energy stocks have performed best but are a bit too extended in the short term for a low risk buy point.
Financials are also strong with $RJF potentially in play on a breakout. This is not an official setup.
$F has formed a bull-flag-like pattern with the 8-day EMA catching up. A move through the two-day high could spark some buying interest. This is not an official setup.
On the short side, most setups are maybe a day or two away from lower-risk entry points.
$TWLO is a former leading stock that is now in a downtrend with the moving averages in proper order, 20<50<200. After a breakdown from a 4-week consolidation at the lows, the price has bounced higher the past two days and should be monitored for a short entry near the declining 10 and 20-day EMAs.
There are no official setups for Wednesday’s session. Let’s see how major indexes react to resistance.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Long watchlist – $AER $F $RJF $TSLA $GM (all entries over the prior day’s high)
- Short watchlist – $ZEN (below yest low), just watching a handful of others $DDOG $TWTR $TWLO $FIVN $OKTA
See you in the chat room,
Rick
For those new to this report, our share size is pretty conservative with max. size around 10% of equity per trade. We do this because we prefer to trade 10-12 names to keep the report active. However, if your goal is to maximize returns, taking 18-25% positions is the way to go. If trading in a non-margin account, this will limit the portfolio to 4-5 positions. If on margin, then 8-10 positions. Our risk per trade on average is just over 1/2 of 1%. Experienced traders may want to risk 1% to 2% per trade. For example, a 20% position in a 100k account with a 6% stop loss would result in a $1,200 loss (1.2%).
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.
