vlad.adrian
Long

Utilities - An uptrend is an uptrend

AMEX:XLU   SELECT SECTOR SPDR TRUST AMEX UTILITIES SELECT INDEX
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Looking at the weekly chart, price is standing at value with a very oversold Force Index . The impulse is still red, but the daily chart shows a possible reversal.

On the daily chart , we have a very strong close after a false breakout below the strong support at 45$. There are two ways of making this trade (with my system of course). Either buy now which is perfectly fine or wait for a green impulse on the daily chart . By the time the daily is going to show a green impulse, the weekly impulse would have turned blue, most probably.
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