With 30-year Treasury yields moving higher, the interest rate sensitive utilities sector may start feeling the heat. In contrast to the S&P 500, the Utilities SPDR (XLU) peaked in October and formed a lower high in November. The price relative confirms weakness as it moved to a new low this week.
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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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