The Wagner Daily – September 20, 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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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.
- $DKNG and $DLO buy stops triggered.
The S&P 500 closed out last week’s trading with a break of the 50-day MA. Will the price bounce back as it has before or will we see a change in character?
The Nasdaq Composite closed below the 20-day EMA. If last week’s low does not hold, then a test of the 50-day MA is likely.
Growth-based $ETFs $FFTY and $IWP outperformed the S&P 500 and closed out the week above the 20-day EMA. Nice relative strength, but can these ETFs remain strong if market conditions continue to deteriorate?
There are no new setups for Monday as the model portfolio already has enough long exposure given current conditions.
$DLO and $DKNG were added on Friday. Note the new stops in $DLO.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- No new setups – Just Watching $ZI $LULU $DLO $FIGS $AMEH $LC $DDOG $GLBE $MDB $BILL $APP
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