The Wagner Daily – Monitor $ZIM Setting Higher Lows

The Wagner Daily – December 7, 2021

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 – 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):

open positions:

closed positions:

position notes:

• No trades triggered.

Commentary:

Stocks bounced higher on Monday with the S&P 500 and Nasdaq Composite holding the prior day’s low which qualifies as day one of a new rally attempt. 

For the timing model to generate a buy signal, we’d need a follow-through day or price reclaiming the 20-day EMA (and holding) in either index (S&P 500 or Nasdaq).

Until then, we will likely remain in S.O.H. (sit on hands) mode. That being said, we would not be against taking a small position ahead of a buy signal as long as the indices are not setting new lows.

There are no new official setups for Tuesday.

The daily charts of $PSTG and $ZIM below are examples of relative strength.

$PSTG is showing relative strength by holding above the 10 and 20-day EMAs while the main indices lost the 50-day MA. Another sign of strength is to print higher lows while the index sets lower lows.

Not an official setup.

$ZIM is also setting higher lows the past few weeks while holding on to the rising 20-day EMA. In a decent market, the break of the downtrend line is generally a decent spot to put on partial size with the idea of adding as the price moves higher. There is no entry for now as we are just monitoring the action.

Othere stocks we are monitoring: $TSLA $QCOM $SLAB (can it hold 20ema) $RBLX $AMBA $ABNB $NVDA $HAYW

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

• none

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