Looking to cover shorts from 4/27 at 55.03 from entry at 59.9 today. 12:41:48 (UTC) Mon May 4, 2020
XLU (NEUTRAL) Daily - sell/buy Range - Thu Apr 9, 2020 12:27:22 (UTC) Thu Apr 9, 2020
Previous Close: 55.79 Upper Bound: 58.60 Blower Bound: 40.94 12:54:34 (UTC) Tue Apr 7, 2020
XLU (bearish) bias. 23:17:29 (UTC) Mon Apr 6, 2020
Updates coming from the previous "Banks Look Cheap vs Utilities" chart. For those who don't remember here are the flows we have been tracking: Now it is clear US 10-year Yields are starting to withdraw again, although this time Banks vs Utilities are less affected. I have been talking with clients recently around this space and there is broadly no concern....
Add it to the list of reasons we eventually stay lower.
XLU is a massive, highly liquid fund that only invests in utility companies that are included in the S&P 500. It is one among the cheapest and most liquid options. I am expecting a structural break down. Will only enter if the relative upward strength or the volume of the pair runs out. I have identified the same structure on RSI below. Have a look.