UTIL Utilities Weekly Chart Approaching a Breakdown at 399.03

UTIL utities sector shows that the broad markets are approaching dangerous levels. If the UTIL loses the 399.03 level this week, the broad markets are in serious trouble. If the 50 week MA is lost around 393.30, the broad markets will go into free fall. Since the utes were not yet ready to lead the markets down in this recent negative market action, the assumption is that UTIL will bounce here before losing 399.03, but, as always, all you can do is watch.

If the 399.03 level is lost today or by Friday, then the broad markets will have taken a serious turn for the worse. If UTIL stays above 399.03 the remainder of the week, then the extended heavy broad market selling will be placed on hold and the markets would continue along sideways or sideways up. 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.