Utilities (DJUI) update

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.

 

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

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