Why I am watching XLU

All right, folks, we’re looking at x Liu, the utility’s ETF. And we’re trading at $76. As of this recording, lots of things going on here on Excel us. So we know that utilities will typically suffer in a rising interest rate environment. That’s because they are heavy borrowers of debt. And coupled with that, we also want to take a look at the seasonal nature of XL u which we can see by our smart market scanner, we can see that we are coming here into an historically bearish time a weakness for x l u starting on around April 29, end of the month, with an average we’re in a win rate of 80%. Over the last five years from a technical perspective, we’re getting a 123 top so I found this using our 123 Top scanner. And we can see that we are trying to base right here. Now we did clear the the number to low right here which gave us the print. But as you know, we’d like to see a close confirmation before we get to net number two. Now one little thing that I would like to add is I would prefer to see the shorter term moving average here, in this case, the five get back down or crossed back down below the 21 before considering a short now, but time that happens because of the strength of the trend. As indicated by the deviation of the two averages, we may lose some downside while we wait for that confirmation, but longer term, I think we could see a potential target or move down here to around the 71 half 72 range. Now, we also have bearish divergence. So a lot of good things shaping up in our favor. So I’m looking to get short x value once we get a little bit more favorable movement to the downside. And my first target on this is going to be right around here on the 71 half 72 area. I’m gonna be doing a free presentation on Wednesday, April 20, at 8pm Eastern three point Price Action Forum to spot market reversals where I’m going to be covering this exact three step mechanical strategy that works on all markets, whether you trade stocks, options, futures, Kryptos, ETFs, and more as well as any timeframes for to teaching this setup. I’m gonna hyperlink you to this page. All you got to do is click the orange button and look forward to seeing you there.