The Wagner Daily – September 9, 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:
- $DDOG buy stop triggered.
- Stopped out of $AMD, $SHOP, $CRWD, and $DOCU.
Stocks sold off across the board with small cap and growth ETFs hit the hardest. $SPY and $QQQ closed off the lows of the session but have bounced into resistance from the declining 20-period EMA on the hourly chart. Can these charts reclaim the 20ema and hold?
The model portfolio stopped out of $AMD (breakeven), $SHOP (very small loss), $CRWD, and $DOCU. All losses were minimal with light position size.
The $DDOG add triggered above $140 on heavier than average volume and set a new closing high.
$DDOG continues to find support around the 20ema. The stop on our add is just below Wednesday’s low.
$ZI’s reversal candle on Tuesday did not hold, but could still be in play if the price tightens up during the next few days around the 20-day EMA.
$FIGS has pulled back to the 50-day MA and could be in play next week if the price tightens up around the 50-day MA.
Our scans did not turn up much that was actionable, so there are no new official setups for Wednesday. Note the $RBLX setup is no longer on the list and is canceled for now.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Watching – $RBLX $CROX $DLO $FIGS $ZI $NVDA $SNAP $NTRA
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