The Wagner Daily – Software Gaps Need Follow-Through

The Wagner Daily – August 9, 2021

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!

---

MTG Market Timing Model – buy mode (but cautious) 

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:

• Note the average prices above in $NVDA and $SNAP. 

Commentary:

There isn’t much to report regarding the technical action on the daily charts of Nasdaq Composite, S&P 500, and $IWP. All three are trending higher above the rising 10 & 20-day EMAs with the 20-day EMA close by as support.

Growth stocks definitely picked up last week, but we need to see more follow through on recent breakouts before adding new long exposure. 

Semiconductors are leading. $AMD, $NVDA, $KLAC, and a bunch more look good.

We still have live buy stop orders in place for $KLAC and $POWI.

We are already long $NVDA in the model portfolio.

Software stocks gapped higher but need to follow through.

$HUBS are $LSPD are buyable but not official setups.

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

• $LSPD – buy at 98.15
• $SNAP – buy at 79.30   
• $HUBS – buy at 661.00
• $CRCT – is in a tight range and could move out but reports earnings 8/12 
• $GS – pullback entry to 394.00 (partial buy add more as it moves higher).   $LAZ and $COF are a few other finance stocks  that could be ready to move out.

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.