The Wagner Daily – July 8, 2022
Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).
Subscribe now for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record.
Just drop us a comment with any questions or comments–we’d love to hear from you!
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):
- Per intraday alert, bought $LI
The Nasdaq Composite closed more than 1% above the 20-day EMA on Thursday, triggering a buy signal in our market timing model. We are already long a few positions and plan to increase exposure as new setups develop.
Has the market bottomed out? Maybe? We can’t predict the future, but we can react to what is going on right now. Market conditions have improved enough in the past few weeks to warrant more exposure.
How long will the rally last? We never know. We could see a multi-week or multi-month rally.
Per intraday alert, $LI was added to the model portfolio. For those not already long, an entry at or below our entry is fine.
There are two new setups for Friday in $SWAV and $PRVA.
$SWAV took out the prior swing high but failed to follow through. Since then, it has pulled back to and held support from the prior swing high and rising 10-day EMA. Our buy entry is above Thursday’s close. We’d like to have some exposure on close to the 10-day EMA and can add on strength.
$PRVA has paused for a few days on a dry-up in volume and an explosive breakout above $30.
The volume pattern in place since regaining the 50-day MA has been impressive with volume increasing on rallies and drying up on chop.
Our entry is over the two-day high.
Other stocks in play –
$LNTH, $BZ, $UTHR, $PDD – over prior day’s high
$VRTX – buy on open, has broken out
$CHEF, $BMBL, $LRN also strong
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – see above
- Shorts – none
See you in the chatroom,
This list is a good starting point for monitoring the health of the market for those who have limited time.
Start my Wagner Daily membership now to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. The Wagner Daily PRO includes live swing trader room for daily, real-time trade ideas and powerful stock trading education.