defensive sectors acting bullish dailyim not aurprised to see a bullish daily move from a defensive sectir in a bear market ending bull rebound. i think utilities are particularly good at catching this movement. this is a good etf to do that with.
UTSL trade ideas
utilities showing RHS (UTSL)reverse head and shoulders may prove defensive sector stocks may be putting in a bottom. these may do well over the weekend as pros, sm, mm, tutues, and some retail may look to these to provide value when rotation is taking money out of growth.
target 33.33 and 33.97
stop loss 32.89 as this would mean a probable touch of bottom anchored vwap band after a break of the mean.
nothing stopping utilities from running (utsl)we should still have another bull move somewhere in utilities as defensive rotation continues
LongLooks price found support on the 50 EMA and is bouncing up. RSI trending up. CM-slingshot show the trend is still bullish.
