Utilities Select Sector SPDR Fund

  • XLU

  • $71

  • +1.08%

  • $71

  • $71

  • $71

FSI Sector Allocation

Ticker Appearances

Wed, January 31, 2024 | 1:08PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
Wed, January 31, 2024 | 1:08PM ET
Today's US Equity market outperformance has been all Defensives.. and Utilities have risen back to an area of "make-or-Break" resistance after this bounce. Note, the XLU bounce happened exactly as rates started tumbling this past week- However, I don't suspect this rate move lasts and should start to turn back higher. If this is the case, thanXLU 1.08%  probably will hold 62.50 and turn back down- but that area near prior swing lows is paramount to this rally continuing and i expect it likely holds, for now. if this 62.50 is exceeded, than a much larger Utility rally is underway which for now, I'm a bit skeptical of. Keep a close eye on TNX.
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^Prices as of 2024-07-26 16:15:15