Utilities Are Creeping Up: XLU

February 17, 2012

When Utilities ETF  (XLU) starts going up, it’s time to think people get more defensive and the market is exhausted.

There are too many opinions about a possible market top, so we think differently and chose XLU as a good proxy for fear.

Bullish signs:

  1. haClose above the short average (upper pane)
  2. two doji-like heikin-ashi candles (consolidation with a positive bias)
  3. haDelta bounce at historical support (lower pane)

 

Utilities Are Creeping Up 2/17/2012 XLU

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