Utilities SPDR Perks Up with Bounce off Support XLU

The Utilities SPDR (XLU) was relatively weak in January as it failed to partake in the broad market advance. More recently, the ETF surged in late January and again on Tuesday with moves that reinforce support in the 34-34.5 area. MACD flattened over the last two weeks and a move into positive territory would turn momentum bullish again.

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