The Wagner Daily – Stock Watch: $LYV Near Highs

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$LYV Daily

The Wagner Daily – February 28, 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 (watching for a buy signal) 

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:

  • Per intraday alert, bought a starter position in $DDOG near the 50-day MA.


Nasdsaq 100 futures are trading roughly -2.7% lower as of this writing and beneath the low of Friday’s primary session, but still above Friday’s pre-market low of 13,760.

$Nasdaq COmposite Daily

Should the price remain weak overnight, then we could see gap-down-reversal type action Monday morning, where the price opens below the prior day’s low and recovers back above. Just one scenario of many that could play out.

Per intraday alert, $DDOG was added to the model portfolio Friday afternoon. Given the sharp reversal action in the market on Thursday, we dipped a toe in the water on the long side with a starter position off the 50-day MA.

$DDOG has a solid RS rating of 96 and is one of a few growth stocks trading within 20% of its 52-week high. Let’s see how it holds up on Monday.

$DDOG Daily

Commodity stocks continue to dominate the top 40 industry groups but most are a bit too extended for a low-risk entry point. Some non-commodity names that are holding up well or breaking out are $MU, $AOSL, $LYV, $EXPE, $PANW, and $LNTH.

$MU is forming the handle portion of a cup with handle pattern and could be in play depending on Monday’s open. We will send an intraday alert if any action is taken.

$MU Daily

The monthly chart is sitting just below the all-time high.

$MU Daily

$LYV is also looking good near highs with an RS rating of 96 and a relative strength line breaking out to new highs ahead of price. No entry yet, just watching for now.

$LYV Daily

There are no new official setups for Monday, but as mentioned above we are closely monitoring $MU.

The commentary below is taken from last Friday’s report and will remain up this week.

What we look for in a market bottom:

  • Higher lows, market should hold the low set on day one of the new rally attempt
  • Market reclaims 10-day SMA and eventually reclaims the 20-day EMA (within a few weeks)
  • Follow through day (buy signal) prints on day 4 or later of a new rally attempt (may occur before or after the index reclaims the 20-day EMA)
  • New leadership emerges to confirm the fresh new buy signal. Breakouts are working.

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

  •  Longs – watching $MU for an entry near the 50-day MA or over the short-term downtrend line. Potential entries off lows looking for a bounce (counter-trend pops): $RIVN $HOOD $PTON $RBLX $DASH 
  •  Shorts – though $SNAP or any of the counter-trend longs that fail could be in play on short side (if market weakens)

See you in the chat room,


This list is a good starting point for monitoring the health of the market for those who have limited time.

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