Utilities and Real Estate sectors (XLU XLRE) both are down big on an up day for the overall market which is a signal that portfolio managers are rotating out of "safe" stocks and into "risk" stocks. Utilities chart looks like it is about to break below the 50 day after hitting all time highs at the 1.618 fib extension. What I like about shorting Utilities is that they sell off big for a few days in a row when they break down.
Trade active
Breaking below 50 MA. Looking for sub 62.Note
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.