After soaring to new all-time high upon new all-time high, the safety trade might be in grave danger, according to one top technical analyst.
After soaring to new all-time high upon new all-time high, the safety trade might be in grave danger.
"And utilities just accomplished something that's only happened three times — up 10 weeks in a row — and they got murdered this week.[sector stocks] are also equally extended and the bet here is that these, too, are about to give way." Despite how things look on the surface, Worth says one of those slip-ups could be lurking right around the corner.
Perhaps more worryingly, Worth doesn't even think that perfect uptrend looks quite so perfect anymore.
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