Are Utilities Sending Ominous Message to Broader Market?
Chris Kimble | Sep 12, 2023 21:16
It’s been a rough go-around for stocks and investors. But will it get worse before it gets better?
Let’s turn to Joe Friday for “The facts, Ma’am. Just the facts.”
Today’s chart features a “monthly” view of the Dow Jones Utility Index.
And, as you can see, the chart is very straightforward and telling.
For the first time in 15 years, the Dow Jones Utilities Index has broken below its 40-month moving average.
The past two times it did this were also in August. And both lead to considerable losses. More pain ahead for stocks? Stay tuned.
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