The Wagner Daily – April 12, 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 Mode but on verge of sell signal if S&P 500 loses 50ma
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.
- No trades triggered.
The Nasdaq Composite continued its selloff with another gap down on Monday and a close well below the 50-day MA.
If the 13,320 level is unable to hold then a test of the March low is likely.
There are no new official setups for Tuesday.
Our weekend scans did not produce many setups on the long side and Monday’s action did little to help. As for shorts, it’s tough to enter new swing trades with the market already two weeks off the swing high.
Our game plan is to sit tight and manage existing positions.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $AMC $GME (nr4 days that could pop)
- Shorts – none
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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