The Wagner Daily – September 12, 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.
- Per intraday alert, $ENPH buy limit order triggered.
Last Friday’s 2% gain on higher volume in the Nasdaq Composite can be viewed as a follow-through day which triggers a buy signal in our market timing model. The Nasdaq closed at resistance from the 20ema, 50ma, and downtrend line all just above 12,000.
A close above the 20-day ema by more than 1% would qualify as another buy signal. A break of Friday’s low within the next few days would negate the follow-through day.
The S&P 500 rallied on lighter volume, so no follow-through day. However, a close of 1% or more above the 20-day EMA would generate a buy signal.
Per last Friday’s commentary, the model portfolio added to $ENPH at $309.20. The early selling was in reaction to a downgrade.
There are no new official setups for Monday’s session. We are monitoring a handful of stocks for a low-risk buy point.
$CELH could be in play on a pullback to the rising 10-week moving average.
$PRVA could be in play within the next few days especially if the price tightens up above the 20-day ema.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- Longs – $ARRY $STAA
- Shorts – none
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