The Wagner Daily – Market Update: Buy Signal Continues

The Wagner Daily – December 31, 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 – Buy 

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:

• Per intraday alert, stopped out of $AMAT and sold $AMD.
• Note the new stop prices for $ANET and $MU.

Commentary:

The video below replaces the written commentary portion of today’s report.  If the video does not appear or does not play then copy and paste following link to view it directly on youtube.com:

Few points –

• We are still operating under a buy signal; however, leadership is thin (semis) with defensive areas also leading (utilities & reits) which isn’t ideal.
• Growth stocks remain out of favor.
• For the most part, we are focused on stocks that have shown relative strength the past few weeks and are trading at or near 52-week highs.

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

• Stocks we are watching – $NVDA $AMD $CDNS $MRVL $AMAT $ARCB $CALX $PI $SMAR $FTNT $FFIV $PANW $GOOGL $GFS
• Pullback entries off support of a moving average or a reversal candle are probably the best bet for new entries.   Entries above an inside day or NR7 day are fine.  Try to avoid buying obvious breakouts.

Happy New Year! 

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