The Wagner Daily – Market Bounce Ahead? Best Long Picks & $REXR Setup

April 26, 2022

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MTG Market Timing Model –  Sell due to both the S&P 500 and Nadsaq Comp below the 20 and 50-day MAs

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:

• No trades triggered.

Commentary:

Stocks recovered from a weak open and rallied in the afternoon session with the S&P 500 and Nasdaq Composite closing more than 2% above the day’s low. Monday’s reversal could spark a short-term bounce in the averages. Whether that bounce is another 2-3 hours or 2-3 days we don’t know.

Although the market could bounce higher in the short-term, conditions are not ideal for new long entries.

Here are a few of the better-looking names along with an unofficial setup in $REXR.

$CAR, $CUTR, $DLTH, $DEO, $f

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

• Longs – $REXR – over Monday’s high
• Shorts – new setups should develop within the next few days

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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