The Wagner Daily – September 21, 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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MTG Market Timing Model – SELL (markets back below 20 & 50-day MAs
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 along with open and closed positions:
- Note the new stop in $ENPH.
Stocks retreated ahead of Wednesday’s Fed meeting, where the Fed is expected to raise interest rates by another 75 basis points.
Tonight’s scans produced a fair amount of stocks at/near decent buy points but much will depend on how the market reacts to the Fed. As always, we can expect a pick up in market volatility after 2 pm. EST.
While there are no new official setups for Wednesday, stocks on the watchlist below could be in play late Wednesday afternoon or on Thursday… IF there is a bullish reaction to the Fed.
$PCTY has held the 20-day ema and could be in play above the two-day high. This is not an official buy setup.
$WOLF’s relative strength line broke out last week well ahead of price, a bullish sign. This is not an official buy setup.
$TSLA has formed a valid basing pattern after a 50% rally off the lows.
Stay tuned for intraday alerts Wednesday afternoon if we decide to take any action.
Unofficial Setups –
- Longs – $SWAV on pullback to 10-week ma (around $269),
- Shorts – none
See you in the chat room,
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