UTIL Utilities Weekly Chart; Three Black Crows; Bulls Desperately Trying to Hold the 50-Week MA Support

Utilities sink lower over the last three weeks; look at those Three Black Crows staring at you (three consecutive red candlesticks moving lower which usually indicates that the trend has changed to the downside). This is bigtime right now. The UTIL 50-week MA at 821.53 is critical support. Bad things happen real fast if it fails.

Think of the UTIL 50-wk MA as a trap-door. If UTIL fails, expect the S&P 500 to drop 30 or 40 points within the following hour. That would be a good outcome since the other outcome would be the stock market crashing and going into free fall. Watch it like a hawk. If you stuck around on the long side in the stock market and you see the 821.53 fail, you will pucker. 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 11:46 AM EST: UTIL 826.90... 827.14 .... price is teasing lower. LOD is 826.78 so that is key.

Note Added 11:52 AM EST: Whoopsies daisies. UTIL 826.45..... price takes out the LOD. That's not good, for bulls. It is good for bears. Only 4 more points and a wild show will begin.

Note Added 11:56 AM EST: UTIL 826.25 a new LOD. This is fun. The knives are sharpened. We're ready.

Note Added 12:52 PM EST: UTIL 822.80 a new LOD. Steady.... you have to wait until you see the white's of their eyes. UTIL 50-week MA is 821.43. Something very special may happen.

Note Added 12:59 PM EST: UTIL 823.06. 

Note Added 1:11 PM EST: UTIL 822.60 a new LOD.

Note Added 1:30 PM EST: UTIL 825.41. Nothing to see here folks, move along, move along, go home folks, nothing to see here, that's it, move along, there you go, move along ...... Utilities came down to tease death but recover back to the 825 handle headed higher. The bulls held the line at the 50-wk MA support, for now.