The Wagner Daily – $ARKK Falls 6%: Bounce Ahead for Growth ETF?

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$ARKK daily

The Wagner Daily – April 27, 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 –  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):

$todays watchlist

open positions:

$open positions

closed positions:

$closed positions

position notes:

  • No trades triggered.


Market conditions remain very weak after Tuesday’s plunge erased Monday’s reversal attempt. The selling has been brutal in three of the last four sessions, with losses in the -3% to -4% range in most major indexes.

The Nasdaq Composite set a new low on the year after Tuesday’s range break. Since this is an obvious break to new lows we would expect some sort of bounce within the next few days

$Nasdaq Comp daily

Growth ETF $ARKK also set a new low on the year after Tuesday’s -6% slide. Much like the Nasdaq, we would expect some sort of a bounce within the next few days.

$ARKK daily

Just a reminder, this week is a busy one for earnings with several big names reporting.

  • After the bell on Wednesday – $FB $PYPL $QCOM
  • After the bell on Thursday – $AMZN $AAPL $INTC

There isn’t much to do on the short side, as most major indices are either at a new low or near the swing low after a sharp selloff and due for some sort of bounce.

Our short-term plan is to sit in cash and wait for new setups to develop on the short side.

For those who prefer to trade breakouts in leading growth stocks, this market isn’t healthy and cash is king. At some point, a new bull market will emerge…we just have to be patient.

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

  •  Longs – (none)
  •  Shorts –  (none)

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This list is a good starting point for monitoring the health of the market for those who have limited time.

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