The Wagner Daily – Update on $APP and $PATH

Enjoy this post? Share the love.

APP daily

The Wagner Daily – June 1, 2021

Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).

Subscribe now for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record.

Just drop us a comment with any questions or comments–we’d love to hear from you!

MTG Market Timing Model – buy mode (though the new signal is weak so far)

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:

  • $PATH stop triggered


image 42

The Nasdaq Composite remains on a buy signal after reclaiming the 20-day and 50-day MAs last week.  The price wedged higher last week and is vulnerable to further selling if Friday’s low does not hold, which could lead to a test of the 10-day EMA or 50-day MA. 

nASDAQ  daily

So far, there isn’t much power behind the recent buy signal, with very few stocks breaking out and following through. Patience is key here, as we want to avoid adding too much exposure until there is more evidence that the Nasdaq is ready to move higher.

The S&P 500 remains in chop mode after printing a weekly hanging man candle a few weeks ago. Further chop would be ideal here, as this would allow the index to digest the last move up. 

S&P 500  daily

S&P 400 Midcap Growth ETF $IWP reclaimed the 10-week MA last week with the last swing tightening up from 16% to 10%. Like the Nasdaq Composite, a constructive base.

S&P 400 Midcap Growth daily

Due to the lack of actionable buy setups, there are no new trade setups for Tuesday’s session. The model portfolio stopped out of $PATH last Friday. Note the new stops in the open positions section above.

$APP broke out to new highs last Friday. We haven’t seen much follow-through in breakouts as of late, which is why our stop is now the low of the breakout day.

APP daily

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

  • $AMAT – buy stop at 140.00 or pullback to rising 8 or 10-day EMA
  • $UPS – buy stop at 217.00
  • $CROX – reversal candle buy at 102.70

Start my Wagner Daily membership now to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. The Wagner Daily PRO includes live swing trader room for daily, real-time trade ideas and powerful stock trading education.

Enjoy this post? Share the love.

Please leave your comment below!

Your email address will not be published. Required fields are marked *