Utilities- Bearish Wick At Resistance For 2014′s Hottest Sector
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When it comes to juiced up performance in 2014, Utilities come to mind. Utilities ETF (XLU) is up just short of 30% on the year (see performance here, click on YTD).
This strong rally has XLU up against 5-year channel resistance, with momentum lofty and it could be creating a bearish wick at these key price point. A unique pair trade involving Utilities is at hand right now. Sector members will be informed of this trade tomorrow. If trading sectors is of interest to you, I would be honored to have you as a Sector/Commodity Sentiment Extremes. See details (here).
Full Disclosure....Metals members own GDX.