Updating this post from a few weeks back, the utilities are staging another strong bounce off of the following weekly trendline. Volume is strong thus far. Given the defensive nature of the utes, it remains to be seen how this development will impact the broad market, if at all.
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IDU gave a historical PPT oversold near November 14-15, which is likely very near where that arrow points at green candle.
The average return gain for the oversold was near 6%, playing out slower but as forecasted.