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One of the most bizarre sideshows of the entire AI obsession has been the notion that utility companies are AI plays. The canard wrecked what had been one of the most fantastic setups I had ever witnessed, which was NextEra Energy (NEE), a stock I wrote about probably a dozen times. When everyone accepted the “fact” that the most boring sector in the world was the equivalent of NVDA, it was all over.
The bonds, by way of TLT (shown below) keep slipping as the symmetric triangle suggested.
The Dow 20 Transportation Index, represented below by way of the ETF symbol IYT, is in a terrific bearish pattern. Sadly, the volume on this thing stinks, and the options are even worse.
Take note of that dashed red line. Sweet!
