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adatherton
Dec 27, 2018 8:01 AM

XLU Defensive in clear channel Long

SPDR Select Sector Fund - UtilitiesArca

Description

The XLU (Utilities ETF) is a well-known defensive (succeeds in troubled economies, you have to buy their product) and has a very clear channel. My trade enters at the bottom of the channel and so allows for further market weakness. The price only matched the previous top last time, so I am playing safe with that top as a target, rather than going to the top of the channel.
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