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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: Jacob Snyder who wrote (29612)7/12/2021 3:16:23 PM
From: Jacob Snyder3 Recommendations

Recommended By
ajtj99
Lee Lichterman III
The Ox

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XLU utilities since the 2020 low: schrts.co

Upper bound: 67$ resistance line.
Lower bound: defined by the series of higher lows. 4% below the 50dma is where it bounces, more or less.

Those two lines are converging, so one of them will be breached. Interest rates will decide. If 10y Treasury yield below 2% is the new normal, and inflation is really transient, XLU will break above 67 and set new ATHs.

Utilities went sideways for 10 years, 1972-1982. That was the last time of sustained interest rate increases. For as long as the market worries about inflation, XLU will do poorly.
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