Bye Utilities

XLU came near a resistance line that was formed between December 2007 and March 2020 peaks. Interesting as a hedge because it can pull back when the broader market rallies. The peak in utilities, healthcare and staples is the last sign of a bear market being underway. They all fell sharply the past two days, but it's too early to say whether the "everything goes down" phase of the bear market is beginning.

Update: Maybe the bulls are done. ZH: Retail Flows Turn Negative As Last Market Bull Capitulates