The Utilities SPDR (XLU) is by far the weakest of the nine sector SPDRs right now. The P&F chart below uses daily price data and each box is valued at .30%. The ETF broke the Bullish Support Line in August, consolidated and then broke below the prior two O-Columns with this week. You can read more on PnF charts in our ChartSchool.
Click this image for a live chart.
Click this image for a live chart.
Mr. Hill: Is the 0.3 % PnF equivalent to the 60 min PnF? I use the 60 min PnF to do a great deal of my trading.
Art's Response: No, not quite. The .3% 60min PnF chart will not go back as far as the .3% Daily PnF chart because there will be more reversals. In short, there will be more details on the 3% 60min PnF chart.
Posted by: Michael Grieco | September 19, 2012 at 03:47 PM