Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
Watch UTIL 472 over the next six trading days. Markets will drop into big trouble should the 472 level fail. If the 472 holds, the market bulls are fine with their feet up on the desk. Note the falling wedge pattern now in place. The apex intersects horizontal support at 477-ish which would be a possible bounce point. The indicators are weak and bleak. UTIL has dropped from 500 to under 480, 4%, in only 12 trading days. The largest markets selloffs in years gone by have occurred when the utes lead the broad indexes lower so pay close attention to the utilities sector moving forward. 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.
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