The Wagner Daily – August 12, 2021
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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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):
closed positions:
position notes:
- $NVDA stop triggered for a small gain.
- Per intraday alert, stopped out of $SQ.
The S&P 500 has closed higher in three of the last four sessions while the Nasdaq Composite has closed lower in three of the last four sessions. The Dow Jones and S&P 500 are leading the market higher with money flowing out of tech for the most part.
Financials, materials, and homebuilders/ home construction have ripped higher this week and are areas of focus for new setups.
The is one new official setup for Thursday in addition to the add in $AA.
$URI cleared the highs of a 12-week long and 19% deep base. Breakout volume was 30% above average. Also, note all the volume spikes during the base. Since $URI cleared the pivot on volume we are buying over Wednesday’s high.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $ASAN – buy at 75.26
- $MARA – buy at 37..20
- Others that could move – $XPEV $DLO $VMC
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