Category: The Wagner Daily – Archives

Per intraday alert, we sold $COP early in the session as it broke the prior day’s low for a very small 1% loss.

There is one new official setup for Friday’s session. We are buying the 3x inverted $QQQ ETF – $SQQQ. $SQQQ allows us to short by going long and can be bought in retirement accounts.

We are looking for a slight pullback from yesterday’s wide trading range with a buy limit order at $40.70.  Just a reminder, this is a buy limit order that must trade down to our price to trigger.  The protective stop is placed beneath the 61.8% fibo level of Thursday’s candle, minus some wiggle room.

$TSLA reported earnings after the close on Wednesday and is up about 6% in pre-market trading. If it can reclaim the two-day high and hold that would be a big lift for the market. Depending on where the gap opens, could be in play for aggressive traders above 1,040. This is not an official setup.

Also stopped out of $HCC. $HCC was once up +10%, so we felt it was best to raise the stop to breakeven and prevent a decent winner from turning negative.

$X is an unofficial buy setup over Tuesday’s high. We like the tight-ranged consolidation above the rising 20-day EMA.

$ETSY bullish reversal candle off of support of the 10, 20 and 50 MAs.

Note – As of this writing, the Nasdaq futures are down -1% and S&P 500 futures -0.7%.

Friday’s selling erased all the bullish engulfing action on Thursday and suggests further weakness in the short-term.

Unless the price action can reverse higher Monday morning, it looks as though a test of the uptrend line (at the very least) is next for the S&P 500.

Managing swing trading signals for risk and opportunity in a changing market.

$TSLA closed with a bullish outside day and reclaimed the 20-day ema. The recent pullback looks to be forming the handle portion of a 42% deep cup with handle pattern. The buy stop entry is over Wednesday’s high with a protective stop beneath the three-day low.

The idea here is to put on some exposure in one of the best acting growth stocks in case the market is able to recover from the recent selloff and push higher. Reports earnings on 4/25.

$TSLA closed with a bullish outside day and reclaimed the 20-day ema. The recent pullback looks to be forming the handle portion of a 42% deep cup with handle pattern.

The buy stop entry is over Wednesday’s high with a protective stop beneath the three-day low.

The S&P 500 joined the Nasdaq Composite below the 50-day MA this week which puts the timing model back in sell mode. 

For the model to return to buy mode either the S&P or Nasdaq must close back above the 20-day EMA. 

The S&P 500 also closed below the 50-day MA for the second day in a row and unless it can bounce back within the next day or two may be headed to the 4,300 area.