The Utilities SPDR (XLU) bottomed along with the broader market in mid November and advanced the last three months, but the advance has lagged in more ways than one. XLU is up less than SPY and SPY is already above its October high. Nevertheless, XLU is in a clear uptrend and poised to break the October high. The Aroon oscillator turned bullish back in mid December and remains strong.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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