The Wagner Daily – $DDOG Tightened Up Above the 10-day EMA

The Wagner Daily – September 1, 2021

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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):

open positions:

closed positions:

position notes:

• Per intraday alert, bought $DLO.

Commentary:

Russell 2000 ETF $IWM reclaimed the 50-day MA and set a new swing high last week. The bullish price and volume action in $IWM may suggest the market is entering more of a “risk on” environment with money flowing into faster-moving stocks.

Per intraday alert, $DLO was added to the model portfolio after bouncing off support of the 10-day EMA on Tuesday. A move through Tuesday’s high could spark the next wave up. For those not already long, buying near Tuesday’s close is fine.

$DDOG has tightened up the past few days above the 10-day EMA. We are currently long in the model portfolio.

$FIGS reclaimed the 50-day MA and is buyable over the two-day high with a stop beneath the rising 10 and 20-day EMAs.

This is not an official setup.

Unofficial Setups – For experienced traders only, no guidance is given for these setups.

• $FIGS – buy at 42.30 (reclaimed 50ma)
• $DAC – buy at 84.82 (pullback in uptrend)
• $WDAY – buy at 276 (breakaway gap)
• $U – buy at 129.15
• $CFLT – buy at 56.580 (few days of tight price action, with entry over  inside day high)
• Others to watch:  $DXCM $BILL $PLTR $RRR $NTLA $ZIM $XONE $PLTR $ZI $NUE

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