The Wagner Daily – Model portfolio 100% in cash after recent stop-outs

The Wagner Daily – April 21, 2021

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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quick jump to:today’s watchlistopen & closed positionsmarket commentary

resources:subscriber guideour trading strategyblog

handy links:live mentorship room (members login)

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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):

open positions:

closed positions:

position notes:

• $CRWD, $ETSY, and $FUTU stops triggered.

Commentary:

After stopping out of $CRWD, $ETSY, and $FUTU, the model portfolio is 100% in cash. Recent breakout trades in $RBLX and $FUTU failed to follow through which was disappointing.

There isn’t much to do right now so it may be best to sit in cash for a few days. We will see what develops.

The Nasdaq Composite is tightening up from left to right on the daily chart, which is constructive action. Even if the price pulls back into the 50-day MA, it will only be a 4% swing, which is tighter than the last swing of 6%.

$MSFT, $GOOGL, and $ORCL are a few of the big cap names leading the way.

Can $FB hold support from the 20-day EMA. Earnings are next week on 4/29 (verified date).

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

• No setups
• Watching – $ASO $SWAV $OZON $NARI $FOUR $ALGN $TSLA $NVDA

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