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
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:
Commentary:
Tuesday’s bullish reversal led to higher prices in all major indexes we track. Growth led with $ARKK +4.6% and $IWP +2.1%. The Nasdaq 100 gained +1.4% and +0.9% for the S&P 500.
The daily charts below look to be headed higher in the short-term IF Wednesday’s lows hold. Whether or not they can recapture the 20-day ema and hold, we will see.
In Wednesday’s report, we discussed long entries in $XOP and $KOS. Both triggered and closed +4% and +6% respectively.
There are no new official setups for Thursday.
Below are a few charts we are monitoring:
Just a reminder that US markets will be closed next Monday, May 30.
For those new to this service, our system is based on trading growth stocks that can explode higher in a short period of time…when conditions are ideal. For most of 2022, conditions have not been ideal, so we have been playing the short side when setups are there while waiting for a new buy signal. Below are a few things we are looking for in a buy signal.
Keys to market turning bullish:
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
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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