Last week I presented this inverse head and shoulders.
Chances seemed bleak that it would play out the way I outlined in this idea.
But here we are.
Neckline completed with the help of a double bottom forming at the base of the last shoulder.
Winter is drawing near.
Water problems in Mississippi, No problem, print another couple billion more dollars.
Not...
It's always about power.
Utilities are eyeing all time highs.
With this mornings sell off, XLU formed an inverse head and shoulders.
The 162% profit target for the structure lines up perfectly with an Ascending Triangle forming on the daily and all time highs.
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We have ended Wave 4 of major wave 5 of 5 o5 long term scale see channel long term This would mean and confirm that the 40 year Bull market in US debt is going to have some major issues . If I were a long term holder I would raise a stop and sell calls as well . this trend looks like and END is near
OCT is going to be like a raging storm or forest fire . run as far as you can there is No place to Hide outside of Cash and the US $ . 90% plus of investor and above 90 % of TRADERS have not lived thru a BEAR MARKET BUT THEY WILL The FED MANDATE as to inflation the spread is at 600 basis they will be happy if they can get it to 200 and...
AMEX:XLU
If price can holds within this channel, looks like a great entry price. Will need to monitor price compared to the overall market to gain confidence the sector will be resilient, but there's potential.
Utilities are one of the few parts of the market to hit new highs recently. Now, after a pullback, some dip buyers may get interested in the sector.
This chart of the SPDR Utility ETF highlights the $71.10 level where prices peaked in February 2020. XLU was stuck below its old highs throughout the pandemic, and only broke out in March 2022. It’s now pulling...
The market has gone through so many trend cycles in the past few years. Sometimes trends last a few days, weeks, months or even years. Clearly the 2022 trend so far has been Energy, Commodities & Utilities. What do you think the next trend is and how long do these trends last? Drop a line with your ideas. Here's a 3-split chart of XLU, XLE & COMT, 15m, 1hr & 4hr...
XLU formed a bullish flag pattern after breaking out of a descending trendline recently
Price has broken and closed above the flag which is the resistance on 15 March
Long 700 shares at 71. 01
Stop loss will be previous pivot low
Last time I underestimated oil and gas prices as a cost for utilities. For now dont see any significant downturn there. Labour cost doesnt help as well
I have noted many are seeking out utilities for a bit of stability.
XLU is an ETF slammed packed with utilities. It is a product of the SPDR ETFs.
Cypher which has the 2nd leg retracement pull between the .382 and the ,618 This one appears to have pulled to the ,618. Labeled XABCD and stop is below D somewhere. Peak 2 is higher than peak 1.
This could be...
XLU = Utilities +5.27%
IYR = Real Estate +3.10%
IYT = Transportation +1.57%
XLF = Financial +1.51%
XLC = Communication +1.19%
XLK = Technology -0.32%
IBB = Biotechnology 0%
XLE = Energy -0.59%
SMH = Semiconductor -3.17%
XRT = Retail -6.15%
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only....
