The stock market has delivered big gains thus far this year.
But stocks aren’t the only winners. Gold, Silver, and Bitcoin are also among several winners… along with Utilities.
You heard that right. Quietly, the Utilities Sector (XLU) has put in a solid year. And it might be ready to add to those gains.
Today we look at a simple chart of XLU, highlighting the current breakout setup.
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$XLU Utilities Sector ETF Chart
Pretty simple stuff here. After pulling back throughout August, XLU had a 5-day surge above its 50 and 20 day moving averages. It then surged back to test its late July high. Is a breakout to new highs next?
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
