Category: The Wagner Daily – Archives

$GLBE – buy at 70.12 

Watching $ZI $LC $DLO $AGFY $MELI $SONO $ASO  $SNOW

$AMD is on the watchlist with an add over the prior day’s high. Our thinking here is that the price has stalled above the prior day’s high two sessions in a row (disappointing action). So, if the price can punch through Wednesday’s high and hold, then it could be ready to move out.

he Russell Midcap Growth ETF $IWP outperformed with a +1.1% gain vs +0.2% in the S&P 500.  Growth stocks have led the past few days which is a positive sign for our style of trading. Let’s see how growth holds up by Friday’s close. If the rally in growth is picking up steam, then we should see current breakouts follow through and new setups emerge during the next few weeks.

$SNAP and $ZIM entries triggered and were added to the model portfolio on Tuesday, along with a 3% add  to $DDOG.

Our TC2000 chart was showing incorrect data for $ZIM, so we had to adjust trade details via an intraday alert. For those who are still not long $ZIM, an entry near Tuesday’s close or lower is fine.

$SNAP is back in play for us as the price cleared the highs of the past few days and reclaimed the 10 and 20-day EMAs. We have a buy limit order to enter on slight weakness.

Late last week, we discussed the potential for a change in character in the S&P 500 if it did not reclaim the 20-day EMA within a few days of Wednesday’s break. Right on cue, Friday’s recovery put the S&P 500 back above the 20 and 10-day EMAs, and the S&P back in trend mode.

Stocks Market Update for August 20, 2021 +Breakaway Gap Up in $DLO

The Nasdaq Composite is now trading below the 20 and 50-day MAs and is no longer in trend mode. When the price is below the 20-day EMA on the daily there usually isn’t much to do. Our short-term game plan is to remain in cash and see how major indices and leading stocks react to Wednesday’s selling.

While $SPY reversed off the 20-day EMA, the Nasdaq closed below the 20ema on the daily chart and is on stand-by for a sell signal. However, the first touch of the 50-day MA in several months should act as support.

A false breakout in $RH led to a two-day pullback and a decent reversal off $700. A day of chop would be welcomed here but a move through Monday’s high is the trigger.

This is not an official trade setup.

Per intraday alert, we established two new long positions last Friday in $AMD and $FRHC.

$AMD is a pullback buy off support of the 10-day MA.