Stock Markets Analysis and Opinion
Are Utilities Sending Ominous Message to Broader Market?
2023.09.12 15:53
It’s been a rough go-around for stocks and investors. But will it get worse before it gets better?
Let’s turn to Joe Friday for “The facts, Ma’am. Just the facts.”
Today’s chart features a “monthly” view of the .
And, as you can see, the chart is very straightforward and telling.
For the first time in 15 years, the Dow Jones Utilities Index has broken below its 40-month moving average.
The past two times it did this were also in August. And both lead to considerable losses. More pain ahead for stocks? Stay tuned.
