The Wagner Daily – $CNX: Long Opportunity in Bear Market

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$CNX daily

The Wagner Daily – June 13, 2022

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):

$todays watchlist
open positions:

$open positions

closed positions:

$closed positions

position notes:

  • No trades triggered.


Stocks followed through to the downside last Friday with all major indices we track closing in the -2.5% to -3.5% range. The S&P 500 sold off on higher volume and although volume was not higher on the Nasdaq it was above average.

S&P 500 and Nasdaq should at the very least test/undercut prior lows, with the potential for another leg down. No predictions here, but conditions aren’t improving.

$S&P 500 daily
$Nasdaq Comp daily

Aside from crude oil and energy stocks, little is holding up. Crude oil ETF $USO is in short-term pullback mode and so are most energy stocks.

$CNX has pulled back on lighter volume into support of the prior swing high and rising 8-day EMA. This is not an official setup, but may be one of the few long opportunities in this market for aggressive traders.

$CNX daily

Wheat ETF $WEAT reclaimed its 50-day MA last week and is trying to clear the downtrend line. If last week’s low holds, then a possible higher low would be in place. Watch for a starter entry over last Friday’s high. This is not an official setup.

$WEAT daily

As far as short setups go, there isn’t much out there in terms of actionable ideas after a sharp, two-day decline in the averages. A one-day pause or 2-3 day bounce would be ideal.

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

  •  Longs – watching $CNX $USO $WEAT $ARCH $BTU
  •  Shorts –

See you in the chat room,


This list is a good starting point for monitoring the health of the market for those who have limited time.

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