The Wagner Daily – January 12, 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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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.
- No trades triggered.
There are no new official setups ahead of Thursday morning’s CPI report at 8:30 am EST.
The daily chart of the S&P 500 futures contract has run into the resistance of the 200-day MA and is just below the longer-term downtrend line.
Breadth has improved during the current rally with the number of stocks setting new 52-week highs outpacing 52-week lows for the seventh day in a row.
We are monitoring a few charts below for a buy entry. These setups are not official.
Watching for a pullback to the 8-day EMA.
$PTEN cleared its downtrend line and is finding support at the rising 8 and 20-day EMAs. Look for a move over the three-day high as the trigger which would also reclaim the 50-day MA.
Monitoring $PODD for a possible downtrend line break this week or next.
- Longs – $TGLS $JD $MRNA $MNST (reversal) $MGNI $BAND
- Shorts –
See you in the chat room,
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