XOM long term Monthly

Disclaimer: Steelman's Technical Charts are my own amateur interpretations of technical charts and for informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. Steelman's Technical Charts assume no responsibility for your trading and investment results.

So here is a monthly chart from  1995 to present date of Exxon Mobile. It shows we have been in a powerful uptrend (in Blue) since 1995. In 2002 and 2010 it came in and tested the blue trend line to continue the trend up. Also since 2008 it hit a top then tried to break this resistance point a second time in 2011 and again in 2012 but could not break it. What it looks to me is a potential double top (shown in pink). I think if we break the blue tend line and get a second month confirmation look out below for Exxon. 65, 55 then 50 will be support areas on the way down

Apple

well here is another H&S i missed but too late I think to jump in on a short or sell. Its look like Apple has completed about 1/3 to half of what I think Apple will fall to. I have a target of 475 which is just above the 200 day average but give time the 200 day may meet the price and support when it gets there . Will have to wait and see.

Disclaimer: Steelman's Technical Charts are my own amateur interpretations of technical charts and for informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. Steelman's Technical Charts assume no responsibility for your trading and investment results.

XLF looks almost like the SPY

another reason could get a bounce Mon. the XLF just completed a H&S pattern too.

SPY completed H&S TOP

Well its been a while since I posted working a new job ans 9 to 5 now but will try to get more in. The SPY just played out a beautiful Head and shoulders top. it hit my predicted measurement for it on the close on Fri so should be a bounce come Mon. If we break this support then could be real trouble in the markets. the next support would be the 200 avaerge marked in red.

FDX out my Puts BUll flag

Out of my FDX puts because didn't drop like I thought and looks like a Bullish flag (blue dotted lines) forming. I may have got out too early but again with all the Fed promo going on still little skiddist even at these levels.

GLD, USO Just follow UUP

Well here is a compassion chart of the GLD USO and UUP. The UUP is the bottom chart USO is the middle and GLD top. The trend for the GLD and USO trend is up but look at the UPP (dollar etf) its trend is down. SO conclusion you want to know where oil and gold are heading? As long as the Fed keeps printing money and devaluing the dollar there is only one way for the trend to go and that is eventually up. But Remember no equity or commodity never moves straight up or straight down and its all about  catching the right wave to make money.

Disclaimer: Steelman's Technical Charts are my own amateur interpretations of technical charts and for informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. Steelman's Technical Charts assume no responsibility for your trading and investment results.

USO Intersting Trend Line

So here is a very interesting trend line which leads us to a very interesting Mon. If you look at the green trend line back in June to Sept it was support then it broke through. Here I go preaching again but support broken now becomes resistance and has it become resistance. Since it has become resistence we have hit it 5 times and went through  it a little, but every one of those hits  it would brake down with a good sell off. So here we are again breaking it on Fri. Well maybe the second part of this puzzle is we are at a potential double top. One last thing I watching is the MACD which is in divergence as we go higher it is actually moving with lower highs.  Monday is such a big day for this stock, do we confirm the break higher or does it come in and break down and sell off like we have the last 5 hits prior to Fri. Again you may think I am a big chicken but I will wait for Monday to tell me which way Oil will be going. With all the up rest in the middle east the best way to play this may be options where you can limit your lost if the trade goes against you. Again I will wait for Monday's close to Give me a better look at this trade.

Disclaimer: Steelman's Technical Charts are my own amateur interpretations of technical charts and for informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. Steelman's Technical Charts assume no responsibility for your trading and investment results.