The defensive utility sector (XLU -1%) isn’t looking very safe at the moment, as the break...
The defensive utility sector (XLU -1%) isn’t looking very safe at the moment, as the break below the 50-day moving average suggests further weakness in the days ahead. Technician Ralph Acampora sees the break as a short-term sell for the Dow Jones Utility index but also a longer-term positive for the broader market as investors rotate out of defensive sectors and into more economically sensitive stocks.
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