UTIL Utilities Weekly Chart

The weakness in oil prices create a pall on the stock market to begin the new week of trading, however, utilities cross above a major milestone which is positive for stocks. UTIL crosses above the 50-week MA at 589.29, call it the 589.15-589.30 area. Many Wall Street algorithms have this indicator programmed so it should boost stocks. The utilities' 50-week MA is programmed into Keybot. Despite the positive impact utilities should create in the the broad indexes, weakness in energy, oil, banks, materials and healthcare stocks are ruling the market action as the day begins.

Another key level to watch for utiliites is the closing price 15 weeks ago. This is also programmed into many algo's, such as Keybot, and is followed by the old timer's as a broad market signal. UTIL is above the price from 15 weeks ago at 560-ish so the weekly uptrend is higher which is positive for stocks. Keep a close eye on the UTIL 50-week MA level today and all of this week. UTIL price is at 590.31 a smidge above the 50-week. 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.

Note Added 11:05 AM EST:  UTIL price is at 587.93 dropping back under the 50-week MA at 589.22. This drama will likely continue all week long. Use it as a gauge for overall stock market direction.

Note Added 11:22 AM EST:  UTIL is at 590.07 back above the 50-week. Whoops, here it comes down again ...... you put your right foot in, you put your right foot out, you put your left arm in, you put your left arm out, you..........

Note Added on Tuesday, 10/13/15, at 12:57 PM EST: The drama discussed above continues through today's trading. UTIL is now at 588.01 and the 50-week MA is at 589.23. The battle continues. Keep watching; a firm winner will eventually emerge.