claydoctor
Short

XOP the double bottom the world has been waiting for

AMEX:XOP   SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF
28 1 0
with increasing RSI values, this could actually be bottom support in September. Where we flush out the remaining soft oil             companies that teetered on the brink but survived last low. Could be very ugly for them, and the big boys swoop in and gobble them up for "pennies on the dollar". Contracting world economies from the euro             mess and slow down, dollar strength, oil             cannot stand up to that pressure, demand slows. The perfect scenario for lower oil             , and the what a real double industry bottom requires. Your welcome.

snapshot


Look where this thing turned....right on the Yearly Pivot. Coincidence? Anyway, I think it may ride down the Ichi Mo Ku Kumo Cloud. Probably a slow drift down as will the S&P and the Dow.
I think your date is about right with the seasonality. Cheers.
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