UTIL Chart Shows How to Project a Market Trap Door
Remember the 50 week MA we were watching days ago? The UTIL 50 week MA represents a trap door for the broad markets, if lost, the markets will go into free fall. The 50 week MA is now 415.66. The last print on UTIL is 417.68, two points above so the market bulls have two points of breathing room.
Watch this very closely today and all next week. If the 50 week MA is lost, the broad markets will more than likely go over the falls within 0 to 20 minutes after the failure occurs. For now, the selling will steady itself before the weekend. If the 50 week MA is lost, Katy bar the door, you will see a blood bath.
Latest print is 418+ so it looks like the market bulls are cheating the devil once again.
For UTIL chart use search box above for keystone speculator.