The Wagner Daily – $TSLA’s 50% Rally Forms Valid Basing Pattern

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).

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 (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:

Add

position notes:

• Note the new stop in $ENPH.

Commentary:

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,

Rick 

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.