{"id":624,"date":"2012-03-08T07:34:36","date_gmt":"2012-03-08T12:34:36","guid":{"rendered":"http:\/\/morpheustrading.wordpress.com\/?p=624"},"modified":"2022-04-06T15:07:33","modified_gmt":"2022-04-06T19:07:33","slug":"wagner-daily-lite-for-march-8-2012-dvy-and-uso-potential-long-candidates","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/wagner-daily-lite-for-march-8-2012-dvy-and-uso-potential-long-candidates\/","title":{"rendered":"Wagner Daily Lite for March 8, 2012 \u2013  ($DVY) and ($USO) Potential Long Candidates"},"content":{"rendered":"<p><span style=\"font-family:Arial, 'MS Sans Serif', Verdana, 'Times New Roman';\">Stocks recovered from Tuesday&#8217;s distribution day but trade was light. In a reversal of Tuesday&#8217;s performance, the small-cap Russell 2000 led the move higher, as it tacked on 1.1%. The S&amp;P MidCap 400 added 1.0%, while the Nadaq improved by 0.9%. The S&amp;P 500 and the Dow Jones Industrial Average improved by 0.7% and 0.6% respectively. Home construction, home improvement retailers and financials showed relative strength, while non ferrous metals, gold and airlines underperformed.<br \/>\n<\/span><\/p>\n<p><span style=\"font-family:Arial, 'MS Sans Serif', Verdana, 'Times New Roman';\">In Tuesday&#8217;s newsletter we commented that the United States Oil Fund (USO) may be a pullback long candidate. Yesterday, USO undercut its 20-day EMA for a second consecutive day and held this support level. Further, USO rallied to close near session highs. A move above yesterday&#8217;s high of $40.74 could provide a buy entry trigger in this ETF.<br \/>\n<\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/charts\/2011\/120308USO.gif\" alt=\"\" border=\"0\" title=\"\"><\/p>\n<p><span style=\"font-family:Arial, 'MS Sans Serif', Verdana, 'Times New Roman';\">The iShares Dow Jones Select Dividend Index (DVY) has pulled back and held support just above its 50-day MA over the past two sessions. Yesterday, DVY formed a reversal candle as it retested Tuesday&#8217;s low. A volume fueled move above the two day high of $55.11 could present a buying opportunity in this ETF. <\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/charts\/2011\/120308DVY.gif\" alt=\"\" border=\"0\" title=\"\"><\/p>\n<p><em>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><em>additional annotated ETF and stock charts,\u00a0<\/em>technical market commentary, and access to our Live Trading Room.\u00a0<strong><a title=\"Become a subscriber\" href=\"https:\/\/morpheustrading.com\/services\" target=\"_blank\" rel=\"noopener\">Click 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":"<p>Stocks recovered from Tuesday&#8217;s distribution day but trade was light. In a reversal of Tuesday&#8217;s performance, the small-cap Russell 2000 led the move higher, as it tacked on 1.1%. The S&amp;P MidCap 400 added 1.0%, while the Nadaq improved by 0.9%. The S&amp;P 500 and the Dow Jones Industrial Average improved by 0.7% and 0.6% [&hellip;]<\/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-624","post","type-post","status-publish","format-standard","hentry","category-stock-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/624","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=624"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/624\/revisions"}],"predecessor-version":[{"id":11818,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/624\/revisions\/11818"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}