The Wagner Daily – Swing Trading Opportunity: The Rise of $AEHR in the Semi Industry

The Wagner Daily – January 11, 2023

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 (as of 12/15/22) due to a break of 20ema in the S&P 500

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:

 

position notes:

• No trades triggered.

Commentary: 

Tuesday’s bullish response to the prior day’s bearish reversal is a positive sign for the market in the short term. 

Note that Thursday’s CPI  report (8:30 am)  could have an impact on the market. 

$SPY daily chart has held up well and is now back above its 50-day MA with room to run up to the 200-day MA.

Semiconductor ETF $SMH has rallied into the 200-day moving average and looks to be forming its first base after a decent thrust off the lows.  

$AEHR is one of the strongest acting semis after an explosive three-day rally off the lows.  While we can’t do much with this sort of action in the short term but it is a must-watch for a dry up in volatility.

$TTC could be in play if it can push through the $116 buy point.  This is not an official setup. 

In the short term, the market looks to be headed higher.  There is a ton of resistance above for most broad-based averages, so the upside is limited.  There isn’t enough bullish evidence out there to suggest the current rally is the beginning of a new bull market.  That could change.  

Unofficial Setups 

• Longs –  $TGLS $JD  $TTC
• Shorts –

See you in the chat room,

Rick 

Click here to view this week’s watchlist in google sheets

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