The recent profit-taking in the hot utilities may or may not be indicate of the bond market really being close to an end, given how rate-sensitive the utilities sector tends to be.
Either way, on a standalone basis the utes look close to another rollover for a corrective pattern.
The first chart is the daily for the sector ETF, showing that the 20-day moving average could easily now come into play and reject price lower.
The second chart is major ute ED, showing a bear flag on the daily chart in a clear bear trend.
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