As Big Tech has wobbled and the market has alternated from panic to euphoria, something has been happening quietly behind the scenes.
Boring companies have been moving up.
And utilities have been among the most bullish.
The market seems to be moving toward companies that make money during recessions, and AEP (American Electric Power) is definitely that.
Here’s the chart:
Since July this electricity distributor has gone almost straight up.
And a break above $104.41 could lead to a big explosion.
We’ll keep an eye on it.
Happy trading,
— Scott Welsh
