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[Woody]

Chart below courtesy of Decision Point (Thanks Carl)

On the daily XLU has made a lower low but its MCO (so far) has made a higher low as have CCI,OBV,STOCH,RSI....also the 200 EMA is at 38.18, $38 looks pretty solid for support, not sure what it means for the rest of the mkt, XLF has no such pos div. and I assume both are interest sensitive, possible explanation is that XLF is adversely affected by the Brokers and Utilities have an Energy bias as well......

Take out the declining tops line on MCO and that will confirm a bullish outcome. (all imho)
The Summation below zero is a concern, getting MCO above zero is obvious first step to turning MCSUMM around.



http://stockcharts.c...6911&r=3971.png

Edited by Woody, 26 June 2007 - 10:17 AM.

[calmcookie]

Thanks for the chart. I obviously don't know which way this is headed, but XLU had a nasty looking (bearish) candle stick, yesterday. Might be short lived ... soon see. Good luck, C.C.

Edited by calmcookie, 26 June 2007 - 10:53 AM.