The Wagner Daily – May 6, 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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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.
- $FCX buy stop triggered
- $Bought $XEC.
$SPY still above the 20-day EMA is a positive sign.
Per intraday alert, bought the breakout above base highs in energy stock $XEC. If not already long, one could enter on weakness to the $69 – $69.50 area.
There is one new official setup for Thursday in $LESL.
$LESL has formed a cup with handle pattern and may soon be ready to clear the handle high.
A move through the three-day high could put $KSS into trend mode after a few months of consolidation. We are already long in the model portfolio.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $WSM – buy at 177.00
- $URBN – buy at 38.80
- $RCII – buy at 61.55
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