Here is a look at the utilities, UTIL, the Dow Jones Utility Average, which was posted the other day. UTIL 50-week MA is 821.60 and a major bull/bear line in the sand. Think of it as a trap-door in the stock market. If UTIL 821.60 fails, the US stock market may go into a crash. At the least, the S&P 500 (SPX) would be expected to dump about 30 or 40 handles within an hour after the failure. It will be fun to watch if it happens. The Three Black Crows candlestick formation forecasts trouble ahead. 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.
Note: Chart is courtesy of Stockcharts.com and cropped and annotated by Keystone.
Note Added 11:07 AM EST: Whoopsies daisies. UTIL 829.80. Utilities slip two handles. Now only 8 points from creating disaster and carnage. For gosh sakes! Cover the children's eyes! Bears need VIX above 24.17, otherwise, they got nothing.
Note Added 11:13 AM EST: Whoopsies daisies. Another handle lower now at the 828 palindrome. UTIL 828.97. This is exciting. Only about 7 points from the end of the stock market as we know it. Are you excited? VIX 22.77. SPX is up 15 points at 3896. Fed Powell provides testimony in front of the house. If you look under his table he is holding his jackboot on Uncle Vix's neck holding him down to maintain elevated stock prices for the wealthy class.
Note Added 11:17 AM EST: UTIL 828.49.
Note Added 11:30 AM EST: UTIL 827-handle.
Note Added 11:40 AM EST: SPX 3905. VIX 22.61 at LOD. Fed Chairman Powell is testifying before the House. If you lift Pope Powell's pale green robe, he has his jackboot on the neck of volatility; he is squeezing harder now to send stocks higher. UTIL 828.25.
Note Added 12:38 AM EST: SPX 3919. Pump it Powell, pump it! VIX 22.20. 10-year yield 1.376%. UTIL 826.75.