Utilities Sector Update for 06.29.2008

SELECT SECTOR SPDR UTILITIES SECTOR ETF - XLU

Monthly chart shows the December 2007 high was made with regular divergence on the cci indicator. Possible lower high being made with the May 2008 high.

Weekly chart better shows the topping action at the $42 area. There is a bearish gartley-type butterfly pattern in place at the .618 fib resistance level. The bearish gartley butterfly pattern suggests a lower low as the eventual target. One can also make the case for seeing a h&s reversal pattern in place also.

Daily chart shows that Thursday's gap down at the start of trading created a kicker signal, indicating that trader sentiment has drastically changed. Thursday and Friday's selling pressure took price decidedly down below the short term support and 200sma. Look for a test of the low and then new lows eventually.

XLU Update for 04.13.2008

SELECT SECTOR SPDR UTILITIES SECTOR ETF - XLU

Monthly chart shows bulls holding current support off the 34ema.

Weekly chart shows a small doji candle pattern created with last week's trading activity, indicating indecision between the bulls and the bears.

Daily chart shows price below the 200sma and the 8ema. Price action has traced an abc 3 wave pattern since the low was made in January. Look to next week's trading activity to see whether this is the beginning of the next leg down.

Utilities Sector Update for 03.29.2008

SELECT SECTOR SPDR UTILITIES SECTOR ETF - XLU

Monthly chart shows indecision between the bulls and the bears. No buy signal/pattern evident on this timeframe.

Weekly chart shows consolidation/trading range in place. price is current below all key moving averages. Last week's trading activity resulted in a doji, indicating indecision between the bulls and the bears.

Daily chart better shows the consolidation range the market has been stuck in since the January low. Look for continued weakness and a lower low.

Utilities Sector Update for 03.15.2008

SELECT SECTOR SPDR UTILITIES SECTOR ETF - XLU

Monthly chart shows price below the 8ema and the up trendline. Look for re-test of the 34ema and lower.

Weekly chart shows indecision and consolidation towards the current low. No buy signal/pattern evident on this timeframe.

Daily chart better shows the consolidation range. Look to next week for better direction and next major move.

Utilities Sector Update for 03.01.2008

SELECT SECTOR SPDR UTILITIES SECTOR ETF - XLU

Monthly chart shows increasing selling presssure with a break of the up trendline in place. No buy signal/pattern evident on this timeframe. Look for continued weakness and selling pressure. First possible support is at the LIS and prior resistance of $34.70 area. Let's see if "old resistance becomes new support" or not. It might be short term support, but will most likely break.

Weekly chart shows more enthusiastic selling the past week, with a test of the current low highly likely.

Daily chart shows price below all key moving averages and heading towards a test of the current low.

XLU Update for 02.24.2008

SELECT SECTOR SPDR UTILITIES ETF - XLU

Monthly chart shows indecision between the bulls and the bears. No buy signal/pattern evident on this timeframe.

Weekly chart shows selling pressure last week. Price below the 8ema and 34ema.

Daily chart shows consolidation pattern/trading range. Look to next week for better short term direction.

Utility Sector Analysis for 02.17.2008

SELECT SECTOR SPDR UTILITIES ETF- XLU

Monthly chart shows resistance at the 1.500 fib level with the high made in December 2007. Moving average ribbons remain intact. The current high was made with regular divergence in the CCI momentum indicator.

Weekly chart shows the bulls were in control during last week's trading activity. No clear signal as price is in a small consolidation range.

Daily chart shows the bulls were in control of Friday's trading session. Look to next week to see if they can hold their lead.