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A Drop in Oil Sets a Fire for This Utilities and Energy Play
By Blake Young
Conditions are looking good for the move I have in mind today…
Crude futures spiked yesterday, up to $80.62… and then sold off today, pretty much erasing the gains of the previous two sessions.
From a technical perspective, and I'll show you the charts in just a second, this pushes us, bearishly, toward the lows.
Now, interestingly, there happens to be an inverse correlation between oil prices, energy, and utilities.
See where I'm going with this? I'll show you…
Get Ready for a Special TheoTrade Live Session Tomorrow
Don Kaufman's traveling, so Blake Young and Brandon Chapman will keep the free Live Room open until 10:30 AM Eastern tomorrow. Couldn't have picked a better day - portfolio rebalancing and PCE are likely to rock early trading.
Go here to get caught up, and keep an eye on your inbox for an invitation to join this new free service.
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