The Wagner Daily – April 5, 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:
- Per intraday alert, bought $SPXL and stopped out of $GFI.
Broad market averages followed through on last Friday’s reversal action with solid gains in $QQQ and $SPY. Tech outperformed with $QQQ up 2% vs 0.8% in $SPY.
Per intraday alert, we bought $SPXL based on Friday’s reversal candle after a short-term pullback to the 8-day ema. $GFI sell stop triggered and we are out.
There isn’t much going on setup-wise in growth right now, especially since there are only a handful of growth stocks that are potentially in play. $SEDG could be ready to move and buyable on a breakout as long as volume is strong.
There is one new official setup for Tuesday’s session.
This is not our usual CANSLIM-based setup in a growth stock. This is a swing trade in $RIOT for a quick pop in a stock that is moving off the lows.
The entry is based on Monday’s tight-ranged inside day just below the 8-day ema. The buy stop is over Monday’s high. $MARA , as stock in the same group has a similar look.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $MARA $RIOT $TASK $DOCN $SG – swings over prior days high
- Shorts –
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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