Daily Market Brief

Is XLU about to go the way of 2013?

The $XLU chart shows a remarkably similar trajectory to 2013 in terms size and slope resulting in a sizable correction in the May/June time frame then. Is $XLU setting up for a similar corrective move now? It certainly begs the question especially given underlying weakness in tech and small caps. So far defensives have been able to mask the overall market weakness and related negative divergences:



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