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Markets – Macro – Stocks – Charts – Alerts

Utility Check

I’ve been watching ($XLU) the utilities for a few weeks now as they were the safety trade while small caps and tech corrected. Yet the similarity to 2013 is eerie and hence I keep watch their behavior.

Today markets are bouncing ignoring global weakness yet $XLU keeps steadily following the 2013 script which foreshadowed a quick correction in the May/June time frame:

XLU weekly

 

The week is young still, but key weekly MA’s look broken as of today.

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2 Responses »

  1. Hi, New follower here. Really like your posts and they align with what I’m seeing in the market and yet rarely said.I appreciate your work. Agree with XLU, have seen large put activity past few weeks. I’m also watching IYR, still early but if TLT goes down, (looking a little toppy here) the sectors that went up with rates low, may turn…XLU IYR.Thanks,Peggy

    Date: Mon, 19 May 2014 14:51:28 +0000 To: pegyrose@hotmail.com

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