Utilities Breaking Out

12/02/2009 9:39 am EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

The utility sector was strong on Tuesday as sector ETF XLU gapped higher and closed above year-long resistance on higher volume. Further gains are needed to confirm the breakout. This suggests that further sector rotation to lower beta stocks is taking place as XLU yields over 4%. The major 50% resistance is at $33.70.

Related Articles on ETFS

Keyword Image
Three Ways to Play Real Estate
04/08/2019 5:00 am EST

The real estate sector emerged near the top of our internal Sector Scorecard, signaling this group h...