The Wagner Daily – April 20, 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 due to FTD in Nasdaq on 4/19
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, stopped out of $NUGT and $HCC. Bought $ENPH.
The Nasdaq Composite printed a follow-through day (FTD) buy signal on Tuesday with a 2% move on higher volume. The FTD puts our timing model back on a buy signal. That said, we’d like to see the Nasdaq get back above the 20-day EMA and hold.
There are no new official setups for Wednesday. Per intraday alert, $ENPH was added to the model portfolio while we stopped out of $NUGT and $HCC.
The nasty gap down in $NUGT erased most of our gains and forced us to play defense to protect profits.
Also stopped out of $HCC. $HCC was once up +10%, so we felt it was best to raise the stop to breakeven and prevent a decent winner from turning negative.
$X is an unofficial buy setup over Tuesday’s high. We like the tight-ranged consolidation above the rising 20-day EMA.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $HPK >34.00, $MKX >102.10, $X >37.95, $GFS over 2-day high off lows
- 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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