XLU Meets Our 47.00 Target
Posted on: Friday, December 19th, 2014
The Utilities Select Sector SPDR ETF (XLU) met our $47.00 upside target yesterday, December 18th, first mentioned in our October 23rd report entitled Utilities Sector Showing Upside Potential, to capture a $2.90, 7% advance in a little less than 2 months.
From that report:
“This week’s breakout from 4 months of sideways price congestion in the Utilities Sector SPDR ETF (XLU) indicates that the emerging sector strength that our trend model has been recently forecasting is actually materializing in the marketplace now, and targets an additional 7% rise to 47.00.“
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