[pcabc]

National grid is breaking out past least years peak:

However, volume not showing any rise.

Caveat, used EMA150 rather than MA150 (daily). Relative strength relative to MIDD.L - might not be exactly the same as your calcs.

I think NG. could be a good defensive play if the market overall market does move into a stage 4A. The utilities sector in the US is one of two sectors that is still has 70% over the 150 day MA. In the LSE the Gas/Water/Utilities is in a stage three but done ok this last week.

I'm already in NG. I bought shares in my local electricity board when they were floated and subsequently added to them. I must have made back the cost of the purchases several time in dividends alone - albeit over many many years. Sold the relevent SSE shares when they dipped earlier in recent months.

Using stage analysis I should perhaps have binned NG in June 13 - but I stuck with it seeing the previous months action as a blip, everything was running up. Though hindsight is fine I wonder what the best strategy would have been? I think in this case stage analysis meant I would have sold them just at the start of the long ramp up following that blip.