UTIL Utilities Fail 418 Level

The key this morning is UTIL 424 and 418 levels as outlined last night. With the red futures, the utes moving above 424 was not on the plate.  After the open, UTIL tumbled lower taking out 418 at 9:35 AM. This opens a trap door for the broad markets, but, the 418 failure must hold for seven minutes to lock it in.  The battle continues. Failure again at 9:39 AM. UTIL 417 level fails at 9:40 AM. Looking good for market bears if they can keep her under 418. The Nasdaq percentage down is less than the S&P down move, this hints that the down move may not be that strong.  Typing this in real-time to see if the UTIL 418 failure holds, if so the markets are in huge trouble, if the 418 is regained, the market bulls can recover.  Whoa, UTIL 416.06, they are losing the markets here............

Now UTIL 415.77 at the 9:44 AM mark. The market bears need to hold sub 418 for another couple minutes and they can push the broad markets over the falls.   The utes are lost, 414.23 at 9:46 AM, locking in the negative signal. UTIL 414.00 now.

With the utilities failure that just occurred, the broad markets should tumble large in the minutes ahead.