(Premium) April Utilities Outlook

Utilities tend to underperform when stocks overall are rising. That’s exactly what we’re seeing now. Utilities/S&P 500 is below a falling 200-day moving average and below overhead supply from last year’s trading range. There’s no reason to be overweight the sector with those two headwinds in place.

Things are even worse for small cap utilities. Compared to the S&P 500, that group is setting new multi-year lows.

We’re maintaining our negative outlook on the sector, and given the lack of favorable setups, have no interest in owning individual names in the space.

View the rest of our April outlook:

April Technical Market Outlook 
(Premium) April FICC Outlook 
(Premium) April Information Technology Outlook 
(Premium) April Communication Services Outlook
(Premium) April Consumer Discretionary Outlook
(Premium) April Industrials Outlook
(Premium) April Financials Outlook
(Premium) April Energy Outlook 
(Premium) April Materials Outlook 
(Premium) April Health Care Outlook
(Premium) April Consumer Staples Outlook
(Premium) April Real Estate Outlook
(Premium) April Utilities Outlook 

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