Here are the key levels to watch in utilities and gold as investors get defensive: Trader (via TradingNation)
Overall, his advice to clients was to "be patient" and "calm down."
Matt Maley, chief market strategist at Miller Tabak, was watching the utilities sector — but not in a particularly favorable light. "One thing that I'm looking at in the XLU Utility ETF [is] its 50-week moving average" around $62.50, Maley said. The XLU was up over 2% early Wednesday, above the $66 level.
Instead, Maley suggested buying gold, which has managed to maintain another key level the strategist has been monitoring.
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