The Wagner Daily – April 21, 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.
today’s watchlist (potential trade entries):
closed positions:
position notes:
- Stopped out of $ENPH and $CF.
The Nasdaq Composite stalled at last week’s high and reversed lower on Wednesday. A move through the 13,700 area would be a step in the right direction to putting in a higher low on the daily chart.
Add
$TSLA reported earnings after the close on Wednesday and is up about 6% in pre-market trading. If it can reclaim the two-day high and hold that would be a big lift for the market. Depending on where the gap opens, could be in play for aggressive traders above 1,040. This is not an official setup.
$GOGL has formed a bull flag-like pause after a strong breakout to new highs and is in play over Wednesday’s high. However, it is trading above that high in pre-market trading. Might be best to watch for a pullback entry near Wednesday’s high. Not an official setup.
Until the Nasdaq can push through resistance, we will continue to operate with high levels of cash. If we can find them, we will take low-risk entry points in commodity-based stocks but most are extended.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $GOGL, $TSLA, $HCP – downtrend line break at 58.30
- 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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