The Wagner Daily – Opportunity for $SQ Pullback Entry

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$SQ daily

The Wagner Daily – April 8, 2021

Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).

Subscribe now for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record.

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S&P 500 buy, Nasdaq Composite 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):

$todays watchlist

open positions:

$open positions

closed positions:

$closed positions

position notes:

  • $MARA and $UPST sell stops triggered and we are out.


image 81

The S&P 500 and Nasdaq Composite are still a bit extended from the rising 10-day EMA and may need a few days to correct by time or price.

Although the timing model is on a buy signal, current conditions are far from ideal for growth stock traders as big-cap tech stocks are leading ($FB, $MSFT, $GOOG).

Growth continues to lag.

$FFTY has yet to reclaim the 50-day MA and is still below the 20-day EMA. $IWP (midcap growth) is doing a bit better but is struggling to hold the 50ma.

$FFTY daily

The model portfolio stopped out of $MARA and $UPST. We will continue to monitor both stocks for a re-entry point next week.

Semiconductors remain strong with $AMAT and $LRCX holding up well.

Internet-content stocks are having a solid week with $SNAP, $PINS, and $TWTR reclaiming the 50-day MA.

Will $PINS form a handle or continue to push higher?

$PINS daily

$SQ is still on our watchlist for a pullback entry either to the 50-day MA or near the 10-day EMA, if the 10ema is above the 50ma.

$SQ daily

Crypto-related stocks were hit hard on Wednesday but $FUTU held its ground. We love the dry-up in volume and price volatility at the 50-day MA, just needs to follow through.

$SQ daily

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

  • $FUTU – buy at 151.00
  • Waiting for pullback entries
  • Other stocks potentially in play – $UBER $NARI $KSS $SM & $CPE over prior day’s high

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