The Wagner Daily – $TSLA Enters into Consolidation Mode

The Wagner Daily – April 4, 2022

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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):

 
open positions:

closed positions:

position notes:

• No trades triggered.

Commentary:

Stocks bounced back late Friday afternoon leading to decent reversal action on the daily charts of most broad-based indexes. The Nasdaq 100 and S&P 500 closed in the upper half of the day’s range and held on to the 8-day ema.

Tough to buy $QQQ over Friday’s high as there is limited upside before dealing with resistance.

The S&P 500 is in better shape than $QQQ as its trading above the 200-day MA.

There are no new official setups for Monday, but here are a few charts to monitor for an entry.

Tight ranged inside day for $SFM off the 20-day EMA. The 2-day high is an unofficial entry with a stop beneath the two-day low.

$TSLA has held up well but would like to see another week or two of rest to allow the 20-day EMA to catch up.

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

• Longs – entries over Friday’s high – $SEDG $GTLB $TRTN  $DUOL $UUUU
• Shorts – $AER

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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