The Utilities SPDR (XLU) is virtually alone at the top as it trades near a 52-week high. A bullish cup-with-handle is taking shape and a break above resistance would signal a continuation higher. After showing relative weakness from January to mid March, the ETF started outperforming in mid March as the Price Relative turned up.
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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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