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