Utilities ETF Could Help Lift Senior Averages
NEW YORK (TheStreet) -- Utilities led off the lows in August, but this important sector has become stalled. An improved technical picture could mean that the Utilities Select Sector SPDR ETF (XLU) - Get Report helps lift the senior averages into December.
The chart of XLU above shows a flat to rising 50-day simple moving average. The XLU could soon cross above the 200-day average, giving us a buy signal. The On-Balance-Volume line turned up in July and August but has been flat recently. Strength in the XLU over $44 would mean it has better footing. A rally above the $45 to $46 area could get the XLU to really pop.
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