Category: The Wagner Daily – Archives

Broad-based averages continue to push higher fueled by short covering.

The S&P 500 futures contract has rallied into resistance of the 200-day MA and downtrend line. 

There is quite a bit of support just above 3,900 from a few moving averages.

$PTEN cleared its downtrend line and is finding support at the rising 8 and 20-day EMAs. Look for a move over the three-day high as the trigger which would also reclaim the 50-day MA.

$AEHR is one of the strongest acting semis after an explosive three-day rally off the lows.  While we can’t do much with this sort of action in the short term but it is a must-watch for a dry up in volatility.

$TITN gapped up on big volume and has so far held the gap up day low and 20-day EMA minus a shakeout week. Price cleared the downtrend line and is pushing higher. Let’s see if Monday’s reversal leads to a 2-3 day pullback and a touch of 20ema.

The first is of $IJJ (midcap value) divided by $IWP (midcap growth).  In the tradingview charting platform, the symbol is IJJ/IWP.   The first symbol is value and if it is leading it will be in an uptrend.  If value is lagging, it will trend lower.   

On the short side, $ABNB and $MTCH are bouncing into the declining 20-day EMAs after a false breakdown beneath the lows of the base.

Both are potentially in play on the short side within the next few days.

$CPRX is in pullback mode after breaking out from its last consolidation. Although not an official setup, could be in play on strength above $19 or on weakness if there is some sort of dip below the 20-day EMA that leads to a bullish reversal candle.

On the long side (just monitoring), $NBIX could be in play over the high of Tuesday’s reversal candle off the 50-day MA.

$HALO is on week 4 of a flat base pattern after breaking out from a cup with handle pattern in November.  The high of last Friday’s reversal candle can serve as a buy entry for aggressive traders.  This is not an official setup.

Oil and gas stocks have held up well after a solid move up. $HAL and $SLB are two of the better-looking charts in the area.