Looking at Utilities

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One of my positions is long September XLU puts. Utilities have been more robust than I’d like to see, but I will say that the failure of the horizontal breakout (the dashed line below) is encouraging, on top of the fact that at no time did prices break above the descending trendline.

Here is a longer-term view of the ETF itself, with the dashed line in this case representing my stop-loss level.