{"id":433,"date":"2012-02-16T08:06:02","date_gmt":"2012-02-16T13:06:02","guid":{"rendered":"http:\/\/morpheustrading.wordpress.com\/?p=433"},"modified":"2022-04-06T15:07:34","modified_gmt":"2022-04-06T19:07:34","slug":"wagner-daily-lite-feb-16-2012-smn-xlk","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/wagner-daily-lite-feb-16-2012-smn-xlk\/","title":{"rendered":"Wagner Daily Lite – Feb. 16, 2012 ($SMN, $XLK)"},"content":{"rendered":"

Stocks reversed sharply on Wednesday to close lower, but on mixed trade. The major indices all closed in the red, as both the DJIA and the small-cap Russell 2000 shed 0.8%. Both the Nasdaq and the S&P 500 fell 0.5%, while the S&P MidCap 400 lost 0.3% on the session. Among the few sectors showing relative strength on Wednesday were gold mining, coal, wireless communications and insurance. Weaker sectors included transportation, oil services, real estate, retail and defense.<\/p>\n

Yesterday, the S&P Select Sector Technology SPDR ETF (XLK) formed a bearish reversal candle on an increase in volume. Given this price and volume action it appears that XLK may take a rest from the recent rally. A pullback by this ETF into support of its uptrend line and 20-day EMA could provide a potential buying opportunity.<\/p>\n

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Even though bears wrestled control of the market yesterday, we avoided a distribution day on the Nasdaq. Unless we begin to see numerous distribution days over a short timeframe, we view any selling as an opportunity to purchase the strongest ETFs near support levels….(continued in full newsletter)<\/p>\n

The commentary above is an excerpt from our nightly Wagner Daily newsletter. Subscribing members receive detailed entry and exit prices for our swing trade setups, <\/em>additional annotated ETF and stock charts,\u00a0<\/em>and additional technical market commentary.\u00a0Click here<\/a>\u00a0to become a member for as low as $58 per month.<\/strong>\u00a0Your full satisfaction is guaranteed.<\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks reversed sharply on Wednesday to close lower, but on mixed trade. The major indices all closed in the red, as both the DJIA and the small-cap Russell 2000 shed 0.8%. Both the Nasdaq and the S&P 500 fell 0.5%, while the S&P MidCap 400 lost 0.3% on the session. Among the few sectors showing […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[3],"tags":[],"class_list":["post-433","post","type-post","status-publish","format-standard","hentry","category-stock-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=433"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/433\/revisions"}],"predecessor-version":[{"id":11846,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/433\/revisions\/11846"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}