timwest
Short

XOM rising wedge, target a move down 4%

BATS:XOM   EXXON MOBIL CORP
666 13 4
Technically XOM             is extended and showing signs of rapidly depleting buying support in the stock as it has climbed.

With so many stocks in basing formations and with VIX             down near 14, it is time to start layering on some shorts.

I'm looking at MCD             , GS             , AAPL             amongst others for shorting candidates.

4:13 PM EST, Thursday, Aug 16, 2012
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This XOM forecast is looking like it is in position for a fall to the 86-85 zone from 87.90 here. Click on the 'add bars' button and see it is going along the forecasted path.
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amrit timwest
What are your thoughts after what happened this morning? It shot up to almost $90. Confirming breakout to the upside?
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Followed.
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Followed.
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Agreed.
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Followed.
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Followed.
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There is one problem, IBM broke out of a 2-year resistance and stayed above for a week. details are in this chart:
snapshot
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