NASDAQ:AEP   American Electric Power Company, Inc.
Price recently closed above the .78 fibonacci level and the most recent candle managed to hold that level.

The OBV confirms the recent price action.

The D+ crossed D- on the ADX on 9/1 and the MACD is currently crossing.

AEP has a negative correlation coefficient of -0.5880 (1 year) in relation to the SPY so despite the possible double top formation I am inclined to take a shot at this as S&P futures cratered premarket after the inflation report.

Tight 1 ATR stop: 103.38 (.61 Fibonacci level)
Target: 108.87


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