Charts suggest traders should wait before they keep chasing utilities — the hottest trade of the year

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Charts suggest traders should wait before they keep chasing utilities — the hottest trade of the year
MarketsUtilities Select Sector SPDR FundIshares 20+ Year Treasury Bond ETF
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Frank Cappelleri breaks down the chart in the Utilities Select Sector SPDR Fund.

With the Federal Reserve finally cutting rates for the first time, the attention turns to how many additional cuts to expect, how deep the future cuts will be and what that means for us as investors. Indeed, tracking CPI, PPI and the other various economic reports we see every month matters. Traders instantly react to the data , especially when the actual numbers are distinctly different than estimates.

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