The Chart of XLU is showing a short-term upward trend that is accelerating nicely. Former bullish engulfing patterns have been reliable and the most recent engulfing pattern shows an increase in volume as the stock approaches the March 18th high. Don’t pay too much attention to today’s volume candle because I am sending this alert out during the trading day and I’m sure we will see more volume come in by the end of the day.
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