The Wagner Daily – October 5, 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!
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.
- No trades triggered.
In last nights report, we discussed Friday’s bullish reversal action in the Nasdaq Composite as day one of a new rally attempt. The rally didn’t last long, as the Nasdaq erased Friday’s reversal candle low and closed -2.1% lower.
There is a cluster of support in the 14k – 14,180 range from prior base highs, the 200-day MA, and the July 19 low.
Other than oil and gas-related issues, there isn’t much out there pushing to new highs. Most growth stocks were hammered with $FFTY and $ARKK down -2.8% and -3.6% respectively.
The model portfolio remains on a sell signal and in a 100% cash position. Patience is a must here, as we wait for the market to gain some traction before putting money to work.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- No new setups
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.