Even though I focus on fundamental research, I have to confess that I do look at charts from time to time, especially sector charts. There is a measure that tracks what percentage of each group has bullish chart patterns at a given moment in time and I find these very useful. When a group has less than 10% of the included stocks going up in price, it is usually a pretty washed-out a place to look for bargains. When I was scanning these bullish percent charts earlier this week, I noticed an unlikely industry in the single digits. Electric utility stocks have been battered in recent weeks and have fallen along with the rest of the market.