The Wagner Daily – April 11, 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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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.
- $CF buy stop triggered.
Commodity-based stocks continue to lead while tech struggles. Oil, coal, gold, and agriculture closed out last week’s trading with bullish action. Per last Friday’s report, agriculture stock $CF triggered its buy stop and we are long.
The S&P 500 is outperforming the Nasdaq and is the key index to focus on with regard to our timing model. We will remain in buy mode as long as the S&P 500 holds the 50-day MA.
Weakness in Tech ($XLK) and software ($IGV) is weighing on the Nasdaq Composite which closed below the 50-day MA.
There are no new official setups for Monday. Just a heads up, US markets will be closed on Friday, April 15.
$DBA moved out last Friday and is one to keep an eye on for a potential pullback entry to the rising 8-day ema. This is not an official setup.
As mentioned above, software and tech are weak and potentially in play for aggressive shorts on the unofficial watchlist below.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $MP reversal candle w entry at 54.00, $LMT – pullback to 455.00
- Shorts – $AMAT below 119.20, $CPNG – below 17.60, others to watch below Friday’s low : $SNOW $RBLX $AFRM $BLDR
See you in the chat room,
This list is a good starting point for monitoring the health of the market for those who have limited time.
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