UTIL Utilities Weekly Overbot Rising Wedge Negative Divergence

Utilities weekly chart always a leader to broad markets. Same old story lately, overbot conditions, rising wedgie, negative divergence, the theme is everywhere. 410 is the critical level to watch starting the week of 2/14/11, it represents both horizontal support as well as the bottom rail of the rising wedgie. If 410 is lost the broad markets will be in big trouble this week. There is still a sliver of room inside the rising wedgie to permit things to hold on one more week but it is all very long in the tooth. 410 will be a big tell, especially the first couple days of this coming week. Regardless how the short moves are, this chart shows more topping behavior and is rolling over. The 50 wekk MA is vital support, if the 50 week MA is lost, the broad markets go into free fall, but take it one step at a time moving forward for now. This information is for educational and entertainment purposes only--do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.