UTIL Utilities Weekly Chart; UTIL Regains the Critical 50-week MA

Bingo. Utes recover strongly in the Thursday, 12/27/18, session which creates a boost to the US stock market. UTIL is at 710.89 above the critical 50-week MA at 708.93 which represents a trapdoor for the stock market. The bulls have recovered and close the trapdoor behind them. The bulls are mounting a relief rally taking advantage of the Santa Claus Rally period from Christmas Eve through the first two trading days of the new year.

The relief rally continues as long as UTIL remains above 708.93. Bulls next need copper to rally which will provide more upside oomph for the stock market relief rally. Copper futures are currently up +0.9%. If UTIL slips lower and loses the 708.93 level, the trapdoor reopens and pain, misery and mayhem will send stocks dramatically lower again. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.