The Wagner Daily – Stock Breakout: $LESL

The Wagner Daily – May 6, 2021

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

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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:

• $FCX buy stop triggered
• $Bought $XEC.

Commentary:

$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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