The Wagner Daily -August 02, 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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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 along with open and closed positions:
- $GWW long triggered.
- Per intraday alert, reduced $XBI to a 1/4 position with so many medical stocks reporting earnings this week.
In Monday’s report, we mentioned the Nasdaq Composite was extended from the 20-day EMA on the daily chart and could use a few days of sideways to lower price action. Tuesday’s doji candle suggests the bulls are losing steam and the Nasdaq may be vulnerable to further selling. Given the recent run-up, we expect any pullback to be short-lived and a buying opportunity provided that new setups develop. The above is not a prediction (just a guide) as we know that anything can happen.
There is one new official setup for Tuesday in $SEDG, along with another buy limit order in $ENPH.
$SEDG gapped higher on heavy volume and is in play on a pullback to the rising 8-day EMA. The price could continue to push higher without a pause, but we don’t want to chase the action.
Per intraday alert, we re-entered $PWR after bouncing off support of the downtrend line and 8-day EMA.
Patiently waiting for new setups to emerge.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $EDU >27.00 $CEG over 2-day high (strong breakout)
- Shorts –
See you in the chatroom,
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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