The Wagner Daily – $SWAV: Must-Own with Market Improve

Enjoy this post? Share the love.

$SWAV daily

The Wagner Daily – October 4, 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  

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:

$todays watchlistAdd

position notes:

  • no trades triggered

Commentary:

With Monday’s bullish reversal action, the S&P 500 is in “undercut and rally” mode – if Monday’s reversal low holds.  An undercut and a rally occurs when the price falls below an obvious low but returns above it within a few days.  

s&p 500  daily

No undercut in the Nasdaq Composite, but a downtrend line break could lead to a test of the 20-day ema.

$NASDAQ COMP daily

Monday was day one of a new rally attempt. Our timing model generates a buy signal in one of two ways: a follow-through day (1.5% gain on higher volume) or recapture of the 20-day ema, whichever comes first (in the S&P 500 or Nasdaq Comp.)

Despite the weakness in the market, we are still monitoring roughly 20-30 stocks that have held up extremely well over the past few months.  

$PCTY continues to impress after Monday’s bullish reversal above the 50-day ma (blue line).   A move through Monday’s high could serve as an entry for a small 1/4 position with a stop beneath Monday’s low.  Watch for a potential false trigger if there is a morning gap up and look to enter on weakness.  This is not an official setup.  

$PCTY daily

$SWAV is still a must-own for us if/when market conditions improve. The price action reclaimed the 50-day MA last week and has held up so far. The downtrend line remains in control.

$SWAV daily

There are no new official setups for Tuesday’s session.  Additional stocks to monitor on the long side: $ENPH $CELH $LPLA $TTD $DV $WOLF $AGL $WSC  

Unofficial Setups –

  • Longs – $PCTY 
  • Shorts –  

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.


Enjoy this post? Share the love.

Please leave your comment below!

Your email address will not be published. Required fields are marked *