The Utilities sector had a horrid January, and now finds itself near 9-month lows relative to the S&P 500 index.
Utilities have been rangebound on a relative basis, and they’re currently at the top end of that range. A breakout would likely come only if the stock market as a whole was falling back to the October lows.
Utilities are rangebound on a relative basis, and there’s really no reason to be aggressively long or short until we see some type of resolution. The trend is still up, but if stocks overall are entering a new bull market, Utilities will most likely lag….