UTL Utility Minute Chart Tests 423.83 Level

The chart above shows the critical role the 423.83 level played in yesterday's trading. Five tests, the level failed each time, but the magic hand saved the markets for each occurrence.  Note how the final save of the day at the 3 o'clock hour and move upwards took the broad markets upwards into the close. This technique is an old time trading strategy using the utility 15-week lookback technique, described in Stock Market Logic, years ago.  Suffice it to say, losing the 423.83 level today will confirm a broad market selling event. But, if the market bulls can remain above, the markets will stabilize into the weekend. The utilities are the only major sector that remains bullish as per Keystone's algo, thus, it takes on added importance. The robots should kick in with strong selling if the level above fails. Use seven minutes as a guide for it to hold, note how yesterday it was saved each time within this seven minute time frame.