The XLU has recentlly reached it's high of early 2015 near $50 which seems to offer strong resistance. A double top seems to be in process. Elliott waves count of 5 waves is completed, a correction seems to have started towards the $46.70/$45.35 area, The wave III should just have started, a fast drop is expected.
RSI (5) and MACD are showing beairhs divergence and the XLU-0.20% is trading far away from its 200 days SMA (at $44.30).
The bond market is also showing a similar exhaustion pattern.