Remaining Long Utilities - Market Analysis for Jan 16th, 2008
Remaining Long Utilities
By Mike Paulenoff, www.MPTrader.com
By Mike Paulenoff, www.MPTrader.com
My overall work is telling me to remain long the XLU unless it breaks below the January 4 pivot low at 41.86. It is with that in mind that I intend to ride out this pullback ahead of the emergence of a new upleg that propels the sector to new highs in the 45.50-46.00 area.