The Wagner Daily – No New Setups: Waiting for Traction

The Wagner Daily – November 11, 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 – BUY  

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):

open positions:

closed positions:

position notes:

• Per intraday alert, bought $TSLA as it reclaimed the 20-day EMA.
• Per intraday alert, sold partial $AMD and full position in $SI.

Commentary:

The selling intensified on Wednesday, as the market continues to digest the recent run up. Leading stocks were hit hard, with many on our watchlists down 4-8% or more.

The model portfolio is down to 30% exposure. See the closed positions list above for a detailed look at the day’s action.

$TSLA was added to the portfolio as it reclaimed the 20-day EMA.

There are no new official setups for Thursday’s session as we wait for major indices to find some traction.

The charts below are not official setups but may be in play within the next few days.

$CFLT showed great relative strength on Wednesday and could be one of the first to move out when the market finds some footing.

$BROS has pulled back to support fo the 20-day EMA and the prior breakout pivot and is potentially in play over the downtrend line and recent high.

$AFRM is potentially a buyable gap-up to new highs… if volume is strong.

Unofficial Setups – For experienced traders only, no guidance is given for these setups.

• also watching – $ABNB $NET $ON $ACI $GTLB

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