The Wagner Daily – March 18, 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 – BUY as of 3/16 close
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):
closed positions:
position notes:
- No trades triggered.
Stocks rallied significantly higher for the third session in a row with the S&P 500 and Nasdaq Composite closing more than 1% above the 21-day EMA. As mentioned in yesterday’s report, the S&P 500 is on a buy signal due to Wednesday’s follow-through day. Thursday’s action added to the strength of the signal.
The Nasdaq Composite joined the S&P with Thursday’s close more than 1% above the 21-day EMA. The Nasdaq has yet to produce a follow-through day since it is only on day 3 of a new rally attempt after taking out the prior swing low.
There are no new official setups for Thursday due to the lack of low-risk buy points. We are patiently waiting for new setups to emerge after a brief pause or pullback.
Some stocks we are monitoring: $GFS $AOSL $ACLS $PSTG $ON $ANET $CARG $ZIM $DAC $SEDG
Some tight-ranged days – $SLB $NTR $MP that could move out on Friday
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 first wave of breakouts, new setups emerge
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – none
- Shorts – none
See you in the chat room,
Rick
This list is a good starting point for monitoring the health of the market for those who have limited time.
https://morpheustrading.com/services/swing-trade-alerts
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