The Wagner Daily – Monitoring AMZN for Pullback Entry

The Wagner Daily – July 13, 2021

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MTG Market Timing Model – buy mode due to strength in Nasdaq Composite (still above 20ema)

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:

• No trades triggered.

Commentary:

 Growth lagged on Monday with $IWP giving back -0.35% but it still within 1% of its 52-week high.  

There is one new official setup for Tuesday’s session in $UPWK.

There are two buy-stop orders.  The first is over Monday’s high and the add is over the handle high.

If the setup triggers, then we will sell $SHOP immediately at the market to avoid adding more exposure.

$AMZN is in chop mode right now but should be monitored for a pullback entry. One could set a buy limit order at/near the 10-day EMA wherever the average opens on Tuesday morning. The stop should be about 2% below the entry. This is not an official setup for now.

$DLO is not an official setup but is in play for a quick swing trade on a move through the two-day high looking for the price to hold Monday’s low and the 10-day EMA.

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

• $DLO – buy at 52.10 (move out from pullback to 10ema)
• $NTLA – buy at 160.00 (move out from pullback to 10ema)
• $AMZN – buy limit around 3638.00 (pullback to 10ema)

Other stocks to watch – $COIN $PGNY $ROKU $LSPD $FRHC $RH  

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