The Wagner Daily – October 14, 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!
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 (potential trade entries):
- Bought $DDOG and added to $DOCN.
- Stopped out of $SQQQ for a scratch gain.
Money continued to flow into growth on Wednesday with $IWP outperforming the S&P 500 +1.2% to +0.3%.
The S&P 500 did close a bullish reversal candle on the daily chart, so let’s see if the price can push higher to close out the week. The Nasdaq Composite closed with a +0.7% gain and may be ready to push higher after filling its gap.
Both the S&P 500 and Nasdaq Composite are seven days into a new rally and could put in a follow through day at any time. A follow through day is a 1.5% or more advance in the S&P 500 or Nasdaq Comp on a pick up in volume, which would put our timing model on a buy signal.
The model portfolio stopped out of $SQQQ for a scratch gain. We didn’t want to stick around on the short side if $QQQ failed to roll over right away.
On the long side, the buy stops in $DOCN and $DDOG triggered and followed through nicely on a pick up in volume. Note that we have a buy limit order to add to $DDOG on a pullback ot the breakout pivot.
$BILL cleared resistance at $280 and its downtrend line on a pick up in volume. We have a buy limit order around $290 in case the price pulls back in for a day or two. We also have a buy stop in place at the base high. Note that the relative strength line at the bottom of the chart has already made a new high ahead of price, a bullish sign.
$SE cleared the downtrend line of its flat base pattern on a pick up in volume on the daily chart. The weekly chart below shows the flat base and entry at the highs of the pattern. If $SE doesn’t break out right away, then we will look for a short pause or pullback to establish partial size.
$CRWD finally showed some signs of life on Wednesday by reclaiming the 50-day MA on a pick up in volume. $AMD did as well. We are not buying $CRWD right now just monitoring the chart.
Money is rotating into growth… let’s see if that continues. Our short-term game plan is to monitor new positions for follow-through and add exposure as setups develop.
Other stocks we are monitoring:
HCC NFLX FTNT MRVL AMD SNOW AMBA ABNB PRFT BILL MDB DOCN DDOG ASAN TNDM U AFRM BROS LC AEHR ZS ENPH UPST added SI HUT BTU MTTR MARA MSTR CARG
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- NFLX – buy at 633.00 (pullback entry off rising 10ema)
- MSTR – buy at 728.00 (2-day pullback)
- $ABNB – buy at 176.00
- $AMD – buy limit at 108.00 (slight pullback after a strong move up)
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.