The Wagner Daily – August 26, 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:
Add- $ARRY buy stop triggered for the 3.3% add.
The Nasdaq Composite and S&P 500 reclaimed the 20-day EMA, which is a positive for the timing model. The Nasdaq did so on a pick-up in volume. Let’s see if the Thursday lows can hold during the next few days.
There are no new official setups for Friday’s session. The 3.3% add in $ARRY triggered on Thursday.
Our $UNG long remains in a tight range above the 10-day ema but may be vulnerable to further selling. If not already long, then a pullback to the 20-day ema would be a buy signal. Below is a daily chart of the Natural Gas futures detailing support from the 20-day ema and uptrend line.
$ENPH closed above the short-term downtrend line after a few failed attempts but volume was light. We are waiting for a solid accumulation day with a close above $300, which we have yet to see.
$PCTY could be in play over the two-day high or on a shakeout below the 20-day ema. This is not an official setup.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $PCTY, also watching $TH $PGNY $CHK (breakout)
- Shorts – none
See you in the chat room,
Rick
These lists are a good starting point for monitoring the market’s health for those with limited time.
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