The Wagner Daily – December 1, 2021
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!
MTG Market Timing Model – SELL
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:
- Adds in $PSTG and $ENPH triggered.
- Note all new stops above.
Broad market conditions deteriorated on Tuesday, with the S&P 500, Nasdaq Composite, and Nasdaq 100 breaking down below the 20-day EMA on a pick up in volume. $IWM, $IWP, $MDY, and $DIA are already below the 50-day MA and have yet to find support.
If Tuesday’s low fails to hold on the Nasdaq then a test of the 50-day MA is likely.
The monthly chart has a gravestone doji look which suggests that the uptrend is running out of steam and price is vulnerable to a pullback. Like all candlestick reversals, it must be confirmed by further weakness.
With all major indices we track below the 20-day EMA, there is no reason to put money to work on the long side. Note all the new stops in the watchlist section above.
There are no new official setups for Wednesday’s session. We are monitoring a handful of stocks in case the Nasdaq does reverse higher – $AMBA $LI $PSTG $TSLA $U $ZIM $APP $RIVN $TTD $BITF
$LI is not an official setup but could be in play over the two-day high after Monday’s gap on 4x average volume.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
- 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.
