Utilities

SO hasn't done anything wrong on the chart, but existing longs should reconsider their positions if the stock closes below $48.
'Safer' sectors are getting hit as the selloff continues.
The XLU May 49-47 put spread is very attractive at $0.62 or below.
Next target or price objective for EE should be the half-century mark, or $50. 
Stock could easily fall into the upper teens if the merger with Exelon falls through.
CNP is a little extended, so traders may want to wait for a pullback to $20 before going long.
Only a move below $69 would call into question the bull case now. 
Investors operating on a longer time horizon likely will wait for positive signals on the weekly chart before committing. 
The electrics have been crackling, but the group has more downside risk than currently perceived.
Shares of the electric company could be heading to the $60 area. 

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