Sunday Offering

My intention was to post a handful of good ideas for next week but frankly I've got other shit to do. However, I would be remiss if I didn't, at the very least, cover this one.

Isn't that one beautiful head and shoulders top? Wouldn't be surprised to see this index trade below 400. You may now be wondering how it is you might play a top in the utilities index, if so shame on you because you weren't paying attention last week when I told you.

After doing some homework in anticipation of a top in the Utes I came across SDP. Immediately I knew that this new found symbol would come in handy down the road and sure enough one week later it's showtime. The important thing though is waiting for the pattern to confirm. Timing is key. In this case the pattern will complete with a decisive break below the neckline, say 470. I'll be looking for that Monday to get long SDP.