The Wagner Daily – September 15, 2021
Below is the full, archived issue of The Wagner Daily swing trading report (sent to members the night before the publication date).
Subscribe now for your access to the best stocks for swing trading, proven Morpheus stock trading strategy, and market timing model with a 20-year track record.
Just drop us a comment with any questions or comments–we’d love to hear from you!
MTG Market Timing Model – SELL (all major indices below the 20-day EMA) (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:
- Stopped out of the remaining $ZIM with a 17% gain.
- Stopped out of $RBLK with a 5% loss.
As of Tuesday’s close, all major indices we track are trading below the 20-day EMA which is enough to force our timing model into sell mode. The model portfolio is almost 100% in cash with only a half position in $DDOG remaining (note the new stop that is just above breakeven).
The daily chart of the S&P 500 has failed to close above the open since 9/3. Will this pullback lead to another quick recovery back above the 20-day EMA?
The Nasdaq Composite closed below the 20-day EMA, a sell signal. That said, the current pullback isn’t very deep and the Nasdaq could easily reclaim the 20-day EMA.
With all major indices below the 20-day EMA, adding new long exposure is probably not a good idea until conditions improve. Until then, we can just sit mostly in cash and build our watchlist.
$ZI is a must-own for us once market conditions improve. $ZI averages 3.8 million shares traded per day with 117 million shares in float. It’s a liquid stick that can move. The eps and sales growth is there, along with a solid +33% yearly eps estimate for 2022. It just needs a decent market.
There are no new setups for Wednesday.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- No new setups – Just Watching – $ZI $AFRM $DOCN $LULU $DLO $FIGS $NTRA $AMEH $LC $DDOG $GLBE $MNDY $
Start my Wagner Daily membership now to start receiving winning Morpheus stock trade signals, including a stock portfolio you can easily follow. The Wagner Daily PRO includes live swing trader room for daily, real-time trade ideas and powerful stock trading education.
