{"id":519,"date":"2012-02-24T08:30:51","date_gmt":"2012-02-24T13:30:51","guid":{"rendered":"http:\/\/morpheustrading.wordpress.com\/?p=519"},"modified":"2022-04-06T15:07:34","modified_gmt":"2022-04-06T19:07:34","slug":"wagner-daily-lite-feb-24-2012-pph-iym-iau","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/wagner-daily-lite-feb-24-2012-pph-iym-iau\/","title":{"rendered":"Wagner Daily Lite – Feb. 24, 2012 ($PPH, $IYM, $IAU)"},"content":{"rendered":"

Stocks shrugged off early losses to close near session highs on heavier trade. All five major indices closed higher with high beta issues leading the advance. The small-cap Russell 2000 came storming back yesterday to erase virtually all of this week’s losses. By the closing bell, the Russell had added 1.5%. The S&P MidCap 400 climbed 0.9%, while the Nasdaq posted a 0.8% gain. Both the S&P 500 and the Dow Jones Industrial Average finished higher by 0.4%. The telecommunications and construction sectors were the day’s big winners, while airlines and food retailers\/wholesalers saw the biggest declines.<\/p>\n

Market internals were bullish across the board yesterday. Volume climbed on the Nasdaq by 2.7% and on the NYSE by 5.2%. Advancing volume overpowered declining volume by a ratio of 2.2 to 1 on the NYSE and 2.6 t 1 on the Nasdaq. Yesterday was a big day for market bulls as it was a clear accumulation day. The higher volume suggests institutional investors were active in the market yesterday.<\/p>\n

Yesterday, the Market Vectors Pharmaceuticals ETF (PPH) reversed sharply off of its 20-day EMA and is now poised to break out of its recent trading range. A volume propelled move above the February 21st high of $37.20 could provide a buy entry trigger for this ETF. We are placing PPH back on the watchlist, and trade details are provided to our members in the watchlist segment of The Wagner Daily<\/a><\/em>.<\/p>\n

\"\"<\/p>\n

The iShares Dow Jones US Basic Materials Sector ETF (IYM) formed a bullish reversal candle yesterday… (continued in Wagner Daily newsletter)<\/em>.<\/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,\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 shrugged off early losses to close near session highs on heavier trade. All five major indices closed higher with high beta issues leading the advance. The small-cap Russell 2000 came storming back yesterday to erase virtually all of this week’s losses. By the closing bell, the Russell had added 1.5%. The S&P MidCap 400 […]<\/p>\n","protected":false},"author":1,"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-519","post","type-post","status-publish","format-standard","hentry","category-stock-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/519","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=519"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/519\/revisions"}],"predecessor-version":[{"id":11836,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/519\/revisions\/11836"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}