The Wagner Daily – June 27, 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 – BUY (Nasdaq Composite 1% or more above 21ema)
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:
- none
Several broad market averages reclaimed the 20-day EMA last week forcing the market timing model back into buy mode.
The Nasdaq Composite closed more than 1% above the 21-day EMA (a buy signal) . The 50-day MA is resistance, but let’s keep an open mind.
The S&P 500 did not close more than 1% above the 21-day EMA, so technically not a buy signal. The 50-day MA is also resistance.
Just a reminder, the market timing model uses the 21-day EMA on the indices to generate buy/sell signals. The 20-day EMA is used for all stock/ETF analysis. You can use the 20 or 21 ema for both if you prefer.
There are no new official setups for Monday, but we are monitoring a handful of stocks for pullback or breakout entries.
$EVH is potentially in play this week on a downtrend line break and/or over the high of the past few months at $33.19.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $LNTH (reclaim 50), $HQY (over 68.35), waiting for pullabck – $VRTX $UTHR $HALO $LI
- Shorts – (none)
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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