I STILL think this is a big deal … Utilities… an update
August 7, 2016 – are the Utilities cracking? Historically, they have NEVER gone farther than the measured moves shown from the post 6/6/2016. Stay tuned. the point we are trying to make here is that when these blue measured moves are present AND a perfect 1.618 extension is present THEN the Utes have correct either 46 or 60 percent. here’s the question – are you ready for THAT? watch the close on Friday for more weakness coming confirmation.
6/06/2016 – were rolling right up into the target zone w/ monthly bearish divergence. yes, I still think this is a big deal and begs of caution … in 26,854 days Utilities have never gone farther w/out a major correction. Questions?
going to show this chart again of the Utilities … watch closely, the upper target is pretty darn close. Since the low in the 1940’s the Utilities have never gone farther than this (or close to this – still some upper targets) w/out a major pullback.