The Wagner Daily – June 4, 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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MTG Market Timing Model – S&P 500 sell (just broke 20ema), Nasdaq Composite 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):
closed positions:
position notes:
- $UPST add triggered. Note the new stop.
- Per intraday alert, sold $SE for a small -1.8% loss.
The video below replaces the written commentary portion of today’s report. If the video does not appear or does not play then use the following link to view it at youtube.com:
S&P 500 held the 10 & 20-day EMAs while the Nasdaq Composite closed below all three key averages, the 10, 20, and 50. If the Nasdaq can’t hold Thursday’s low with the exception of a quick shakeout, then the Nasdaq will trigger a sell signal. Still have the S&P 500 on a buy signal.
Note the new stops above. Our breakout entry in $NVDA was taken with the Nasdaq on a buy signal and above the 20 and 50-day MAs. Since this is no longer the case, our entry in $NVDA is a bit exposed. Because of this, we are going with a tight stop on an uptrend line break just above break-even. If our stop triggers, then we will look for a re-entry closer to the 10-day EMA as long as the Nasdaq holds Thursday’s low.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Watching – $CLF $ADM $POOL $DKS $RCII $FDX $CLF $APP $UPST $NVDA
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