, the SPDR Utility Sector is well-known, high div
paying defensive, and has not broken support like SPY
as a whole. Let's play safe with a 1.6:1 trade, with stop below the lower tramline and target the confluence high of the bullish
and moderate cases, as shown by the regular and dotted lines. Aggressive traders could set the stop at 53.75, reflecting the 52-55% pullback last time.