Utilities Trying to Rally
06/12/2009 9:25 am EST
The utilities sector ETF (XLU) was up 2% yesterday and is now testing its 200-day MA at $28.40. There is additional chart resistance in the $29.50 area. Volume increased yesterday, which is a positive sign. Given the recent rally and the potential for higher rates, this sector now seems attractive. There is key support at $25.50.