UTIL uitlities one minute chart shows again the importance of 409.60 for this week. Utes gapped down below 409.60 at the open ushering in overall broad market negativity. The utes tried to get back above but failed, then gapped up thru, came back for a back test then started running skyward. Continue to watch 409.60 today and the rest of the week, it is a key indicator for the broad markets.
Market bulls saved things this morning--for now--by getting back above 409.60. Rising wedgie may help spank it back down. RSI was strong at last prints but all other indicators lining up with negative divergence. Simply watch the UTIL 409.60, above and market bulls will continue to be happy, below and market bears will show what they got. 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.
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