The Wagner Daily – April 20, 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.
Just drop us a comment with any questions or comments–we’d love to hear from you!
| quick jump to:today’s watchlistopen & closed positionsmarket commentary | resources:subscriber guideour trading strategyblog | handy links:live mentorship room (members login) |
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):
closed positions:
position notes:
- $RBLX stop triggered. Bought $CRWD and $FUTU
All major indices closed in negative territory on lighter volume, so no distribution
Growth stocks continue to lag and were hit the hardest with $FFTY down -2.3% vs -0.5% in the S&P 500.
$FFTY has struggled this year, unable to reclaim the 50-day MA while the S&P has climbed to new highs.
Ten out of eleven sectors we track in tc2000 closed in negative territory. Technology was hit the hardest at -1.4%. Energy was the only sector that closed higher.
$CPE and $MTDR are a few of the stronger-looking charts within the sector that could be in play this week on strength. These setups are not official.
Per intraday alert, we purchased $CRWD and $FUTU. $CRWD failed to follow through and closed well off the highs of the session. $FUTU ripped higher, which was an impressive showing given what the market did. However, after the close, $FUTU sold off about 10 points in reaction to news of a secondary offering.
For those who were able to enter closer to $160, a break-even stop will do. Officially, the stop is just below the 61.8% fibo level and our entry around $164.
Over the past few days, many growth stocks on our watchlist have given back almost all the progress made since reclaiming the 50-day MA. It’s tough to trust anything right now, so we plan to lay low in the short term unless something really catches our eye.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $CPE – buy at 36.40 and/or 39.00
- $MTDR – buy at 25.76
- $GS – buy at 345.00
- Others to track for entries on strength: $ATKR $ZLAB $MRVI $BKE $MAR $BOOT $BKNG $CME
Start my Wagner Daily membership now to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. The Wagner Daily PRO includes live swing trader room for daily, real-time trade ideas and powerful stock trading education.
