The Wagner Daily – New Setups for $SNAP and $SE

The Wagner Daily – June 8, 2021

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MTG Market Timing Model – buy mode

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:

•    Per intraday alert, bought $ZS and $LESL.

Commentary:

The Nasdaq Composite set a higher high (within the base) and took out the prior swing high from 5/7. Both positive signs for this index which is now gaining momentum.

There are three new official setups for Tuesday’s session.

$SNAP and $SE are consolidating in a tight range above the rising 10-day EMA.

$LSPD has tightened up the past few weeks and is potentially in play on a breakout over the three-week high.

Per intraday alert, bought $ZS and added to $LESL. $LESL announced a secondary offering after Monday’s close and was 5-6% lower in after-hours trading. Note that we have split stops for the 4% and 6% buys.

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

• $TGH – buy at 34.26
• $CRIS – buy at 150.15
• $DV – buy at 36.10

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