{"id":642,"date":"2012-03-13T08:22:57","date_gmt":"2012-03-13T12:22:57","guid":{"rendered":"http:\/\/morpheustrading.wordpress.com\/?p=642"},"modified":"2022-04-06T15:07:33","modified_gmt":"2022-04-06T19:07:33","slug":"wagner-daily-lite-for-march-13-2012-is-kbe-primed-to-pop","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/wagner-daily-lite-for-march-13-2012-is-kbe-primed-to-pop\/","title":{"rendered":"Wagner Daily Lite for March 13, 2012 \u2013 Is ($KBE) Primed to Pop?"},"content":{"rendered":"

Stocks closed mixed on Monday as volume waned. Large cap issues outperformed as the Dow Jones Industrial Average closed up 0.3%. The S&P 500 closed fractionally higher, while the Nasdaq, S&P MidCap 400 and small-cap Russell 2000 slid 0.2%, 0.4% and 0.3% respectively. Specialty finance and Utilities were the best performing sectors, while coal, precious metals and oil services were the day’s underachievers. Overall, it was a quiet session.
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For the fourth time in as many days, market internals were mixed. Volume declined on the Nasdaq by almost 15.0% and on the NYSE by 10.7%. Declining volume held the upper hand on both exchanges. The ratio of advancing volume to declining volume ended the session at minus 1.5 to 1 on the NYSE and minus 1.8 to 1 on the Nasdaq. For a second straight day, institutions were absent from the market.
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Over the past six weeks the SPDR S&P Bank ETF (KBE) has tested resistance near $22.60 on three separate occasions. Since testing support at the 50-day MA on March 6th, KBE has rallied to reclaim its 10-day and 20-day moving averages. A move above the two day high of $22.62 would be the fourth test of this key resistance level and could result in a buying opportunity in KBE.
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\nSince testing support of its 20-day EMA on March 6th and 7th, the DB Commodity Index Tracking Fund has been consolidating just above this key mark for the past three sessions. A volume assited move above last Friday’s high of $29.43 could provide a buy entry trigger for this ETF. <\/span><\/p>\n

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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,\u00a0<\/em>additional annotated ETF and stock charts,\u00a0<\/em>technical market commentary, and access to our Live Trading Room.\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 closed mixed on Monday as volume waned. Large cap issues outperformed as the Dow Jones Industrial Average closed up 0.3%. The S&P 500 closed fractionally higher, while the Nasdaq, S&P MidCap 400 and small-cap Russell 2000 slid 0.2%, 0.4% and 0.3% respectively. Specialty finance and Utilities were the best performing sectors, while coal, precious […]<\/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-642","post","type-post","status-publish","format-standard","hentry","category-stock-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/642","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=642"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/642\/revisions"}],"predecessor-version":[{"id":11812,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/642\/revisions\/11812"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}