The Wagner Daily – November 17, 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:
- Canceled the $ANET buy stop.
Broad market averages remain in pullback mode digesting last week’s advance.
Look for the 8 to 10-day moving averages on the indexes to provide support. If not, then a test of the 20-day EMA is likely. A break of the 20-day EMA on a closing basis would open the door for another round of heavy selling.
There are no new official setups for Thursday. Note that we canceled the $ANET buy-stop order (it’s no longer on the watchlist). We will continue to monitor the action for a lower-risk buy point on weakness if possible, such as a touch of the 20-day EMA.
A failed breakout attempt above the base high in $GFS could lead to a week or two of chop and a possible touch of the 20-day EMA, which would be an ideal lower-risk entry in this market.
$BTU is consolidating in a tight range on the daily chart below after clearing a multi-touch downtrend line. This is not an official buy but we do like the setup with an entry over the 3-day high.
- Longs – Also watching $FSLR, $ENPH, and $CELH
- Shorts –
Click here to view this week’s watchlist in google sheets
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