I was breezing through the charts last night and I noticed this subtle change on the Utilities.
We'll be watching to see if it amounts to anything.
There is positive deviation on the RSI and MACD but most importantly, the Red area above is starting to make higher highs. It's early, but worth noting!
Good Trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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