The Wagner Daily – S&P 500 Stalls at 20-day EMA, Forms Doji Sign of Indecision

The Wagner Daily – December 8, 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 mode from 10/21/22 signal date, but S&P 500 below 20-day ema which is a potential sell 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:

• 100% cash position. 

Commentary: 

The S&P 500 stalled at the 20-day EMA and closed near the open to form a doji candle. A doji is a sign of indecision. If the price opens higher on Thursday and holds, then we could see a short-term bounce. A weak open could spark further selling and a test of the 50-day MA.

There are no new official setups for Thursday.

We are monitoring a few names that could be in play if the market doesn’t break lower.

Unofficial Watchlist

• Longs –  just watching $PODD  $DXCM $GFS $TMDX  $MOD $PRTA $CPRX
• 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.