QQQQ, SPY, CNP, ATML

While I am solemnizing over the financials, I am picking myself up also because the equity markets index prices have bottoms and are looking good in our favor.

While we sold out of the financial secot filled PEY a couple of days ago, we are still in AT&T from last year (LOL), SPY, QQQQ, DIA, and our new additions and re-entries last months and this month are CNP and ATML. CNP in the Utilities sector, which is doing very well and even outperforming the S&P500, and so is the Technology sector of which ATML is apart of. There were also recent insider buys in the CNP stock in march.

CNP’s stock is experiencing a monthly entry from the powerful CCI system I have come to favor because of its simplicity and accuracy. Also, CNP has bounce off for the 4th time off of its weekly support trendline. That same line was also the back of another support line. It made a gartley pattern and all of this merged together at the 78.8% fib. support line.

We are looking at the downward trendline as a point of reference to watch for signs to exit at $16.98; however, given the monthly signal and weekly bounce, I have set my main target first at $18.68, which is above the downward trendline (would be a break out) and at a horizontal resistance line. I cannot make any commentary beyond that except to say, “Let’s wait until we get there to see what we should do;” that is, on a weekly basis. Now, on a monthly basis, all I can say is that it looks like it will break above its 52 week high if we break above $16.98, given our monthly CCI signals.