The Wagner Daily – December 13, 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.
Just drop us a comment with any questions or comments–we’d love to hear from you!
MTG Market Timing Model – BUY (S&P 500 and Nasdaq Comp are trading above the rising 20-day EMA)
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):
- Per intraday alert, sold $NVDA for a small loss.
The S&P 500 pushed above the two-day high and set a new all-time closing high on Friday. With the Nasdaq Composite and Nasdaq 100 barely hanging on to the 20-day EMA, the S&P is the leading index. However, leadership within the S&P 500 is narrow, with $AAPL, $MSFT, $ORCL, and $CSCO doing most of the heavy lifting.
The timing model remains on a buy signal with the S&P 500 and Nasdaq Composite both above the 20-day EMA but growth stocks are not in favor right now. Growth ETFs $IWP and $FFTY are relatively weak and trading below the 50-day MA ($IWP) and 200-day MA ($FFTY).
The model portfolio is down to one open position in $TSLA after selling $NVDA late Friday afternoon due to the lack of buying interest around the 20-day EMA for the second day in a row. Another close below the 20-day EMA could lead to a rollover and test of the 50-day MA.
$TSLA bounced off the 50-day MA again.
There are no new official setups for Monday.
Below are a few stocks that may be in play this week… no setups, just monitoring for now.
$NVDA $SNOW $JXN $CIEN $FLR $PFE $HD $MRVL $QCOM $APA $CSX $CDNS $LSI $ESI $TECK. Homebuilder stocks may be worth tracking for a pullback entry later this week.
Shorts – $ZS $BILL
$ZS is in play unofficially below $300.
Our short-term game plan is to lay low and wait for better conditions and setups to emerge as this is a tough market to put much money to work.
Unofficial Setups – For experienced traders only, no guidance is given for these setups.
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.