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XLU: What Utilities’ Chart Indicators Suggest

Vincent Kruger
XLU: What Utilities’ Chart Indicators Suggest

After a strong October, utility (IDU) (VPU) stocks started November off on a relatively weak note. The Utilities Select Sector SPDR ETF (XLU), the representative of the S&P 500 Utilities Index, broke below its 50-day moving average, which could indicate impending softness.