After Failing At 51, XLU’s N/T Path Of Least Resistance Down
Since bottoming at $47.37 early February, XLU ($50.13) has made higher lows, with the 50-day moving average flattish and the 10- and 20-day flattish to slightly rising. Encouraging if you are a bull, but at the same time, the $51 area continues to be a roadblock. Last Friday, the ETF retreated after hitting $51. This is…