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Investors can beat the bond breakdown by looking to the utilities sector, according to one technician who believes that his charts show a rebound for that group of stocks.

Utilities have been a classic defensive trade for investors in the past, but the sector has plunged about 9.5 percent since its year-to-date high that it reached in early July.

But the sector is still up almost 11 percent this year and has risen in the past week, and Carter Worth of Cornerstone Macro believes that is a trend that will continue.

"If the market is in trouble, even as bad as [utilities stocks] have been, they're likely to offer alpha and outperformance," Worth said Friday on CNBC's "Options Action."

On a chart of the S&P 500 utilities sector, Worth says that utilities are actually now outperforming the S&P 500 after lagging for years, breaking above a long-term downward trend line.

Furthermore, utilities stocks look to be bouncing up from a 50 percent retracement of a previous gain of 63 percent from the end of last year to this past summer, implying that more upsides could be ahead.

Finally, Worth also believes bond yields are following a downtrend that could see them fall below what he sees is a current support line. Since utilities stocks and bond yields move inversely to one another thanks to investors' hunt for yield, this means that the utilities sector's climb has just begun.

The utilities stock-tracking ETF (XLU) has climbed more than 2 percent over the past week. Bond yields also fell after hitting their highest in months just last week.