The Utils index has been soaring since Nov-2012 and is now
nearing resistance at the top of the channel.
Bounces off the upper trendline have in the past provided
profitable scalp trades in XLU.
A candidate for timing a short scalp is utility stock GAS
which appears to be forming a top. In early February it broke down
fairly hard and now appears to be completing a c-wave.
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UTILS making new highs
Posted by rixx on 24th of Apr 2013 at 07:27 pm
The Utils index has been soaring since Nov-2012 and is now nearing resistance at the top of the channel.
Bounces off the upper trendline have in the past provided profitable scalp trades in XLU.
A candidate for timing a short scalp is utility stock GAS which appears to be forming a top. In early February it broke down fairly hard and now appears to be completing a c-wave.