Review of our buy entry into S&P Utilities SPDR ($XLU)

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Recently, we bought the S&P Utilities SPDR (XLU) in The Wagner Daily newsletter. The charts below show the technical buy setup in XLU prior to our entry:

The chart below shows the subsequent price action after our entry:

On March 9, XLU trigered a buy entry and was added to the model portfolio of The Wagner Daily.   The price action followed through nicely to the upside with strong price and volume action on March 12 and 13.  We remain long with a target near the December 2011 highs.

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Deron Wagner

Deron Wagner is a professional trader, author of several ETF trading books, and the Founder of Morpheus Trading Group. Since 2002, he has been sharing his proven swing trading strategy with thousands of traders around the world. He has appeared on CNBC, ABC, and Yahoo! Finance Vision television networks, and is a frequent guest speaker at various global investing conferences.

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