The Wagner Daily – Growth ETF Nears Target Drop

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$IWP daily

The Wagner Daily – January 24, 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 – 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):

$todays watchlist

open positions:

$open positions

closed positions:

$closed positions

position notes:

  • No trades triggered


All major indexes were split wide open last week in what has become a very dangerous environment for stocks.

The S&P 500 closed below its 200-day MA last Friday and if it’s unable to find support may be headed to the October low.

$SP 500 daily

The Nasdaq Composite sliced through support at 14,200 last week and doesn’t have much support until 13,000.  Maybe the price can reverse off a trendline drawn connecting swing lows on the daily chart below?

$nasdaq comp daily

Growth ETF $IWP is nearing a target projected from the head and shoulders topping pattern that has played out. The first drop from the head to the low of the right shoulder was 11.5%. The break of the neckline should lead to another 11.5% drop near 96.50 at the very least.   Maybe growth sees a bounce this week?

$IWP daily

CBOE Volatility Index ($VIX) measures investor fear and can spike well above 40 during a correction. Looking at the daily chart of the $VIX below we have yet to see panic set in with the VIX near 30.

$VIX daily

There are no new setups for Monday.

There is nothing to do right now on either side of the market. Most stocks are too extended from the 20-day EMA for low-risk short entries. As for longs,  there are no stocks setting up right now with traditional buy patterns and we are not big fans of trying to catch a bottom in a stock that is melting lower.

Cash is king for now. There is no need to predict anything. Let’s just take it one day at a time and see what develops.

Unofficial Setups – For experienced traders only, no guidance is given for these setups.

  • none

See you in the chat room,


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%). 

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