I am rather obsessively watching XLU, because it is by far my biggest position, and the one in which I have the most faith. The dirty little trick this ETF is playing these days is that, each morning, pretty much without fail, it goes zipping higher and freaking me out. Then, just as reliably, it burns off all those gains.
It has done this with enough regularity that I just roll my eyes toward heaven as it’s pulling this stunt. In my opinion, the Dow Utilities ($UTIL shown below) is one of the most amazing diamond tops I’ve ever seen in my life of looking at literally MILLIONS of charts.
