The Wagner Daily – August 31, 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
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:
- Per intraday alert, added to $ZIM.
- $MELI buy stops triggered.
- $AMD add triggered.
Large cap tech outperformed with $QQQ up +1.1% vs +0.4% in $SPY. Both ETFs are in a strong uptrend which makes it tough to find quality chart patterns with low-risk buy points.
$MELI was added to the model portfolio on Monday along with the second buy in $AMD. Per intraday alert, we also added to our position in $ZIM looking for the 10-day EMA to hold.
There are no new official setups for Tuesday.
Below are a few charts we are monitoring (these are not official trades):
$DLO has pulled back to the 10-day EMA after a big volume gap up.
$CVNA reversed off the 10-week MA and stopped just shy of the 50-day MA. This is the first touch of the 50ma in a strong uptrend. Monday’s high is the entry (not official).
$NUE is potentially in play on a downtrend line break but we’d prefer to see a touch of the 20-day EMA first.
Like $DLO, $LC is best purchased on weakness, such as a pullback to/near the 20-day EMA.
The $AMD add failed to follow through but there is support from the rising 20-period EMA a bit lower.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $DXCM – buy at 529.00
- $CVNA – buy at 342.00
- $DLO – depends on open, but as close to 10ema as possible
- $MELI – buy at 1,911.00 if not already long
- $U and $PLTR could be ready to push higher if the price holds yest. close.
- $WDAY over 2-day high and $MDB over Monday’s high are potentially in play.
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