The Wagner Daily – October 25, 2021
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 (waiting for a buy signal)
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):
closed positions:
position notes:
- Stopped out of $UPST for a 10% gain on the first two buys and a small loss on the last buy.
- Per intraday alert, stopped out of $CRWD for a small loss
- $CRWD official add has been canceled and is no longer on the watchlist.
The Nasdaq Composite closed with a distribution day (DD) last Friday, the first since the 10/14 follow-through day that generated a buy signal in our timing model.
Some distribution is fine as long as the count doesn’t grow to 3-4 DDs within a short period of time. If the Nasdaq does pull back in, there is plenty of support from the 20-day EMA and 50-day MA around 14,900.
The model portfolio stopped out of $UPST for a 10% gain on the first two buys and a small loss on the last add. Per intraday alert, we re-entered $UPST looking for last Friday’s low to hold.
We also stopped out of $CRWD for a small loss due to the false breakout action.
There is one new official setup for Monday’s session in $CELH.
$CELH has been in consolidation mode for a few weeks and recently tightened up above the 20-day EMA last week. Note the volume drying up as well.
Last Friday’s reversal candle is a buy signal, with an entry over the 2 and 3-day high.
Earnings are three weeks away on 11/11.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- $MDB – buy at 517.50
- $CRWD – buy at 291.00
- watching $UPST $COIN $MARA $FANG $CRC $SKIN $ZI $UPWK
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