The Wagner Daily – January 5, 2023
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 – 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:
- No trades triggered.
The S&P Midcap 400 is the leading broad-based index and is up against all major moving averages.
Looking for the price action to punch through resistance and hold as a sign of strength. A failed attempt to recapture the moving averages could lead to a sharp reversal lower.
The S&P 500 closed with an inside day on Wednesday following Tuesday’s outside day. Waiting for a break in either direction to determine the next swing.
$QQQ is leading to the downside and has yet to reclaim its 8-day EMA.
There are no new official setups for Thursday. However, if anything catches our eye intraday we will send an alert.
In yesterday’s report, we discussed $NBIX as a potential buy over the high of Tuesday’s reversal candle. The setup triggered and is still in play with a stop beneath Tuesday’s low. This is not an official setup.
$CPRX is in pullback mode after breaking out from its last consolidation. Although not an official setup, could be in play on strength above $19 or on weakness if there is some sort of dip below the 20-day EMA that leads to a bullish reversal candle.
Unofficial Setups
- Longs – $DE $CAT $HAL $SLB $TDW $BOX $MEDP $BCOR
- Shorts –
Add
Rick
Click here to view this week’s watchlist in google sheets
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