Utilities – holding up pretty nicely

11/25/2018 – you can see some of the former work on the Dow Jones Utility Index here: https://bartscharts.com/2018/01/02/i-still-think-this-is-a-big-deal-utilities-an-update-and-another-update/

as you can see, the index went right up into the target area and fell pretty nicely. that being said, it has held up rather nicely and just recently went up and tagged a nice retracement level.  probability is that it should start back down .. but, there’s the deal, look at the stair steps (higher lows) on the index and as I looked at this monthly chart I noticed – there has never been an AB-CD type corrective move.  so, we are setting up for the first one in roughly 40 years.  IF, the big if, we get down as shown by the red arrows on the current price chart THEN we’ll have to give it a shot and buy it ..

it will be the first one in 40+ years.

stay tuned. this strength is interesting …

hope all had a wonderful weekend and great time w/ family and friends if celebrating Thanksgiving!


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.

Leave a Reply

%d bloggers like this: