Note: In the charts the moving averages are depicted by the color. The averages are made up by taking the last x amount of trading days (e.g. 10, 20, 50, or 200) adding them up and dividing by the x amount.
- Yellow – 10 day simple moving average
- Blue – 20 day simple moving average
- Red – 50 day simple moving average
- Orange – 200 day simple moving average
Chart of Focus – Exxon Mobil Corporation – Ticker: XOM
I am expecting the Energy Sector to feel the wrap of the institutional money. The recession, which I have said for many months we are already in, will eventually be discovered by the media – they’re always slow to understand what is happening.
Targets are annotated on the charts. In full disclosure, I am HEAVY shorted in this stock already.
XOM Weekly Chart