Monday, September 22, 2008

Utility stocks - down and forgotten

This post is for those of you who appreciate charts and need little explanation.

With all the fuss over financials, here is a sector with a clear head-and-shoudlers top, including falling RSI (momentum) and a small bounce just before the breakdown. I wrote this one up August 25 for Barron's Online with the title, "Utility Stocks Face Possible Meltdown."

The lower line is the first downside target for the pattern breakdown.

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