The Wagner Daily – August 22, 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.
- Stopped out of the $ENPH add.
Stocks closed out last week’s trading with bears gaining control in the short-term, as the Nasdaq 100 sliced through and closed below the 10-day EMA. The S&P 500 closed at the 10-day EMA, but as of this writing, both the Nasdaq 100 and S&P 500 futures are trading below last Friday’s low and possibly headed to the 20-day EMA.
A pullback to the 20-day EMA during a strong rally is normal action. However, a break of the 20ema followed by further weakness would be a sell signal.
There is one new official buy setup for Monday in $ENPH. For those who are not already long, a touch of 20-day EMA is a low-risk buy point to enter with a 5-6% stop. We are adding to an existing position (small 1/4 add).
$OVV is potentially in play over the two-day high which would also be a downtrend line break with multiple touches. This is not an official setup.
$CELH (along with $ENPH and $SWAV) is a must-own after an explosive move off the lows and shallow 16% correction. Waiting for some sort of reversal candle to print after a shakeout below the 20-day EMA.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $OVV $WOLF (over 2 day high), $CELH, $TH
- Shorts –
See you in the chat room,
These lists are a good starting point for monitoring the market’s health for those with 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.