Several sectors have performed magically this year.
And today’s featured chart highlights one of those out-performers: The Utilities Sector (NYSEARCA: XLU).
BUT, the current setup for XLU could go either way… meaning bullish or bearish.
The sector has consolidated and is now facing a breakout or breakdown.
Note that the following MarketSurge charts are built with Investors Business Daily’s product suite.
I am an Investors Business Daily (IBD) partner and promote the use of their products. The entire platform offers a good mix of tools, education, and technical and fundamental data.
$XLU Utilities Sector ETF Chart
As you can see, the chart of XLU still looks bullish. That said, the consolidation has lasted much longer than normal and looks “heavy”. This could topple over if bulls don’t step up soon.
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.
