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Have Utilities help power the S&P 500 index higher of the past 90 days? Above my pay grade. Investors for sure have been seeking high yielding stocks and ETF’s and Utilities have been a beneficiary of those inflows. Is anyone surprised that the S&P 500 is at all-time highs and boring ole utilities have almost doubled (see lower left inset chart) the SPY’s performance over the past 90 days?
The DJ Utilities index is now facing a trio of resistance in the chart above at (1). Do utilities still have the “Power” to break this resistance? A break above the trio of resistance would be good for this index and SPY!
If you are an investor seeking high yielding stocks, how the DJ Utilities index handles this resistance could be very important to your holdings!!!