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).
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.
- 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)
- Longs – $MEDP – over 2-day high
- Shorts – (none)
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.