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The Dow Utilities 2-day RSI hit 100 on a rounded basis Wednesday following its sixth straight higher close. While obviously overbought, this index has a good track record of continuing to push higher on the heels of such strong upside momentum. Over the last 30 separate occurrences, 25 (83%) led to a higher Dow Utilities one month later, a decent edge over the 61% random odds. Average gain was 2.4%, average loss 1.7%. 2% moves were 13-1. I spent some time looking for a tradable ETF or Dow Utilities component that could be substituted for the index but had no luck. I checked XLU, IDU, VPU, AEP, ED, DUK, NEE among others.

Dow Utilities 2-day RSI at 100 (rounded)
First occurrence in a month
03/30/22… Dow Utilities ??? one month later
03/29/21… Dow Utilities +2.3% one month later
10/06/20… Dow Utilities +3.2% one month later
06/03/20… Dow Utilities -5.3% one month later
01/15/20… Dow Utilities +6.7% one month later
09/24/19… Dow Utilities +0.2% one month later
05/23/19… Dow Utilities +2.5% one month later
03/13/19… Dow Utilities +0.0% one month later
06/22/18… Dow Utilities +2.9% one month later
07/21/17… Dow Utilities +2.2% one month later
05/25/17… Dow Utilities +1.4% one month later
06/30/16… Dow Utilities -0.8% one month later
03/15/16… Dow Utilities +1.3% one month later
02/03/16… Dow Utilities +1.0% one month later
12/26/14… Dow Utilities +1.2% one month later
06/05/14… Dow Utilities +0.8% one month later
07/15/13… Dow Utilities -1.7% one month later
04/29/11… Dow Utilities +1.7% one month later
07/15/10… Dow Utilities +1.0% one month later
10/31/07… Dow Utilities -0.5% one month later
02/05/07… Dow Utilities +1.9% one month later
10/18/06… Dow Utilities +1.5% one month later
07/24/06… Dow Utilities +2.3% one month later
06/13/05… Dow Utilities +6.0% one month later
02/04/05… Dow Utilities +2.3% one month later
12/20/04… Dow Utilities -0.1% one month later
12/19/03… Dow Utilities +4.3% one month later
05/16/03… Dow Utilities +7.4% one month later
03/21/03… Dow Utilities +4.3% one month later
12/17/02… Dow Utilities +2.7% one month later

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