The Wagner Daily – Indices Below EMA; No Setups

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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.

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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):

$todays watchlist

open positions:

$open positions

closed positions:

$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.

Nasdaq Composite daily

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.

Nasdaq Composite daily

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.

LI  daily

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

  • none

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