The Wagner Daily – August 11,2022
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:
- No trades triggered.
Broad market averages surged off the 10-day EMA in reaction to Wednesday’s CPI report. Just a reminder, for our style of trading, it isn’t the news that matters so much as the reaction to the news (price action is king).
There are three new official setups for Thursday.
First up is an add to an existing position in $EVH over the high of Wednesday’s reversal candle, which was the second reversal in day in a row.
$ON is in play on slight weakness after Wednesday’s recovery off the 20-day EMA (first test of 20-day EMA after a strong rally). Our buy limit order is around the 10-day EMA. If there is no pullback, then we will look to buy on strength over $67 or $69.50 via an intraday alert.
$AGL is now an official entry over the two-day high. Note that the position size is now at 5% with a split stop.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $AGL $EVH $LNTH $ON $VRRM are all potentially in play on weakness or strength depending on the chart. Other setups in play over yest. high: $SLCA $OVV (over 2-day high) $FVRR
- 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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