Wednesday, April 23, 2008

energy continued...



You can see here that just as gasoline prices are topping, so is Exxon-Mobile. Old resistance is being hit and the stock is overbought. I get a confluence of nodes on this stock around 5/06/08 but it's possible it could break down before then.

One thing that will be hard on stocks in general from here out is that we are entering the unfavorable season for the stock market. "Sell in May and go away" is an old refrain, well, it's not long 'till May....

No comments: