The Wagner Daily – March 23, 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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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):
- $BROS and $GFS buy stops triggered. Per intraday alert, bought $CARG.
The strong rally off the lows in the S&P 500 and Nasdaq Composite has created a window of opportunity for the bulls.
Within the next few days, we should see some sort of short-term pullback (or chop) in the market to test the longs. We wouldn’t mind some weakness, as this would likely produce lower-risk buy points.
We will likely remain bullish unless recent breakouts begin to fail and the averages break down below the 20-day EMA on the daily chart.
Three new positions were added to the model portfolio on Tuesday. $BROS and $GFS triggered off the official watchlist. Per intraday alert, bought $CARG over the high of the prior day’s reversal candle.
Due to the sharp run-up off the lows, last night’s scan did not produce much in the way of low-risk buy points in stocks trading within 20% of 52-week highs.
We did find a few bull flag-like setups in stocks bouncing from 52-week lows. These setups should be treated as quick swing trades since they are counter-trend.
Setups below are not official:
See the unofficial watchlist below for more setups.
For those who are new to the service, our system is based on trading growth stocks that can explode higher in a short period of time…when conditions are ideal. For most of 2022, conditions have not been ideal, so we have been playing the short side when setups are there while waiting for a new buy signal. Below are a few things we are looking for in a buy signal.
Keys to market turning bullish:
- Buy signal in the timing model, such as a FTD (follow through day) or reclaim of 21-day EMA
- Stocks begin to breakout on volume and hold… indexes hold the 21-day EMA
- Number of stocks making new 52-week highs vs 52-week lows enters into positive territory
- After the first wave of breakouts, new setups emerge
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $HTZ $TSP $FUBO $DOCS (entry over prior day’s high)
- Shorts – below prior day’s low $DWAC
Press HERE (link restricted to paid members) to view this week’s stock watchlist, an excellent starting point for monitoring the health of the market and finding the best stocks for swing trading.
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