The Wagner Daily – November 2, 2022
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 – BUY (from 10/21/22 follow-through day 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 along with open and closed positions:
- Per intraday alert, bought $PI on a touch of the 20-period ema on 60-minute.
Stocks pulled back in ahead of Wednesday’s Fed meeting. As usual, we can expect volatility to pick up in the afternoon session after the 2 pm EST decision on rates.
The S&P 500 has support from the 8 and 50-day MAs, but if volatility is high, we can’t rule out a possible test of the 20-day EMA. A positive reaction to the Fed would increase the odds of a rally into the declining 200-day moving average.
As mentioned in our last report, we sold $PI for a small loss looking to re-enter on weakness. Per intraday alert, we re-entered $PI on a test of the 20-period EMA on the 60-minute chart. We typically monitor the first touch of the 20ema on hourly and the 8-day EMA on daily for pullback entries following a decent gap up on volume.
$MEDP is another recent gap-up we are monitoring.
An entry on strength is possible over the two-day high, which would put the price back above the gap-up day high. A pullback to the rising 8-day EMA would be a spot to monitor for an entry on weakness.
This is not an official setup.
Other stocks on our buy watchlist (many report earnings within next two weeks):
$ENPH $FSLR (after pause) $GFS $CELH $SWAV $ENPH $LTHM $ALB $CF $CEG (on pullback)
Unofficial Watchlist
- Longs – $MEDP – over 2-day high
- Shorts – (none)
Rick
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