The Wagner Daily – December 1, 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:
- Per intraday alert, bought a 1/3 position in $ARRY.
- Stopped out of $MEDP.
In response to Federal Reserve Chairman Powell’s speech, broad market averages rocketed higher in the last two hours of trade. The S&P 500 and Nasdaq Composite rose +3.1% and 4.4%, respectively, on heavier volume.
Wednesday’s powerful advance may spark a decent rally in the coming weeks, provided that we see some follow-through.
Nasdaq 100 futures reclaimed the 20ema and cleared a short-term downtrend line but did not set a new swing high.
The S&P 500 cleared a swing high and reclaimed the 200-day MA!
S&P 400 futures remain in a strong uptrend after defending the 20-day EMA and clearing the swing high.
There are two new official setups for Thursday.
First up is an add in $ARRY over the high of Wednesday’s bullish reversal candle. Per intraday alert, we bought partial size late Wednesday afternoon based on the reversal action.
$ENPH continues to tighten up near the base high. We have a buy stop to enter on a breakout above range highs.
Unofficial Watchlist
- Longs – $SLB (downtrend line break) $CCRN $WIRE $STLD $ASO $PODD $WING
- Shorts – none
Rick
Click here to view this week’s watchlist in google sheets
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