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NYSEARCA:XLU
Had a huge run up in the spring when it typically does not do well, which meant the market had become more defensive. When the Fed talked about tapering, this fell way back down again. Thinks that was a little bit overdone. From a technical perspective, he sees a little bit of a reverse head and shoulders pattern and it has just broken above the resistance line.
(A Top Pick July 12/13. Up 2.46%.) Usually does well from July but this year it did not do very well. Anything interest sensitive from May did not do well.