In the November 19 issue of The Wagner Daily newsletter, we initially pointed out that iShares Nasdaq Biotechnology ETF ($IBB) may be in the process of forming a bearish “head and shoulders” pattern on its weekly chart. Now, after a month-long bounce off support of its 200-day moving average, $IBB is forming the “right shoulder,” […]
Category: Stock Trading Strategy
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Since the last two weeks of December are typically dead in terms of trading volume, there are really only two more “tradeable” weeks remaining in 2012. Therefore, it is fair to say the overall price action of the broad market over the next several days could easily set the tone for the remainder of the […]
As stocks attempt to form a significant bottom since bouncing off their November 16 lows, many traders of stocks and ETFs may now be wondering how to find the best, most bullish chart patterns and stocks to buy now. Specifically, swing traders need to know which technical criteria and types of chart patterns they should […]
It was obviously positive that stocks continued building on their gains since bouncing off their mid-November lows, and did so on higher volume last Friday. However, it’s still too early to declare an end of the broad market’s multi-month downtrend from its September 2012 highs. One of the biggest reasons we say this is because […]
One ETF we are stalking for technical swing trading buy entry today is ProShares UltraShort Emerging Markets ETF ($EEV), an inversely correlated short ETF. As you can see on the chart below, EEV broke out above a six-month downtrend last week, and has now pulled back to near-term support of its 20-day exponential moving average, […]
Over the past several days, we have been clearly explaining that our current plan of action is to be in “SOH mode” while waiting for the weakest ETFs and stocks to bounce into significant technical resistance levels, such as moving averages and prior lows. Then, we would wait for the bearish reversal patterns as a […]
In this stock trading strategy video (click here to see other trading education videos), we do an educational technical review of an actual swing trade in ProShares UltraShort Basic Materials ETF ($SMN), an inversely correlated “short ETF,’ which we bought November 8 and sold on November 15. Upon closing the swing trade, we had scored a solid […]
In yesterday’s (November 15) blog post, we said the stock market may be nearing a significant short-term bottom because Wednesday’s price action resembled the start of panic selling that typically precedes exhaustion in a downward trend. However, given yesterday’s relatively tame price action, the stock market may still need more time to wash out the last […]
For a weak market to form a significant bottom, there typically needs to be at least one or two days of panic selling, where investors finally give up and just want to sell at any price. This prompts institutional investors to step in and attempt to press the “reset” button. It seems as though Wednesday’s action […]
Although our market timing system remains in “sell” mode, and our near to intermediate-term focus remains on the short side of the market, it’s never a bad idea to keep an eye on ETFs and stocks that are exhibiting relative strength to the broad market, as these will be the first equities to move higher […]
