The Wagner Daily – Nasdaq Reclaims 20-Day EMA

The Wagner Daily – April 1, 2021

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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market timing model: S&P 500 buy, Nasdaq Comp buy,  

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:

• Per intraday alert, added to $AMAT early and bought $RIOT and $LRCX in the afternoon.

Commentary:

US markets will be closed this Friday.  As such, The Wagner Daily will not be published on Thursday night. 

Have a Happy and Safe Holiday Weekend!

Our timing model is on a buy signal in the Nasdaq Composite after Wednesday’s follow-through day (FTD). The Nasdaq gained +1.5% on a pick-up in volume while reclaiming the 20-day EMA.

To increase the odds of the FTD working, the Nasdaq should avoid heavy selling (distribution) and hold above the low of the FTD on a closing basis during the next few days.

Although Wednesday’s follow-through was positive, it did lack the type of explosive price and volume action that we are used to seeing in FTDs as of late.  On a strong FTD, our head is usually on a swivel all session long due to the number of quality setups moving out.

What is working right now? Semiconductors, builders, and steel stocks are moving. We have some exposure to semis with $AMAT and $LRCX.

Crypto-related stocks are also on the move this week. We missed $MARA but will continue to monitor for a pullback entry.

Per intraday alert, we purchased $RIOT over the two-day high. For those not already long, a buy stop can be placed above Wednesday’s high using the stop in the report.

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

•    $HOV – buy at 110.00 or $PHM buy at 53.26
•    $WSM – buy at 185.80
•    $MOGO – buy at 9.00 (short term downtrend line break)
• Watching – $SBH $SGRY $FLR

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