Utilities (DJUI) update

http://bartscharts.com/2014/02/03/utilities-as-a-safe-play-not-yet/

Utilities broke out of the potential triangle ID’d a couple days ago … the move up had volume and note the large candle present.  The chart below shows the next pattern w/ regard to a bearish outlook on the Utilities sector.

DJUI SELL pattern

DJUI SELL pattern

if this level does not hold I will work backwards and find out where my analysis was wrong and off track w/ regards to the 5 waves labeled 1 or A.

 

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