Daily Report : Utility stocks see surge in new uptrends; For the 1st time in months, yields near their long-term average
Corporate insiders at utility companies have backed off any major selling pressure, a good thing since the prices of many of these stocks continue to recover. After a complete washout as recently as mid-May, now more than 80% of these stocks are above their 200-day moving averages.; The yield on 10-year Treasury notes is nearing its 200-day average for the 1st time in more than 200 days. This has typically not indicated a long-term change in trend, as the relentless bias toward lower rates knee-capped any potential rallies.
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