Dow Jones Utilities/SPX; A Lead On US Equities/Risk Assets

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The ratio of the Dow Jones Utilities/SPX is approaching a key zone of support. If the ratio resumes the trend higher off the June '18 lows, this would be suggestive of a negative outlook for US equities and likely risk assets in general.

A sustained move below this zone of support and we can start looking toward an improving outlook for US stocks.

I'll be keeping a close eye on this as a guide for upcoming direction and therefore positioning.

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Where you been, miss your analysis?

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Thanks! Had a few other things on away from markets so needed to find some time.

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