The Wagner Daily – New Setups: $ARRY & More, Join Thursday’s Trade Opportunities

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).

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 –  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:

 

position notes:

• Per intraday alert, bought a 1/3 position in $ARRY.
• Stopped out of $MEDP.

Commentary: 

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

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.