XOM And Stock Pickers Dream Market At These Key Levels

This video is being shot well-before the close today. Unfortunately, we have to go see a dear friend of ours who has ended up in hospice. We need to do that and so I need to do this video now. We don’t have a close on the day yet but what we do have is more of what I’ve been telling you about. The story of the next several day and weeks is that this is a stock pickers market. We have this phenomenal long-term resistance that I’ve been telling you about. I’ve been telling you how this level is going to be a big deal. You can see even now day after day we’re struggling in these areas up over here. That’s going to continue to be a story which will lead to some phenomenal stock pick trades and fantastic day trades. It’s the best of both worlds no matter if we’re active day or swing traders. So, more of the same right now in that area and we’ll keep you advised on that and it’s going to be a phenomenal ride. That’s why you’re seeing these rising support levels and we’re bouncing off these areas to accumulation bars at the time of this video. At the same time we have distribution bars as well. You have people who are betting that this market is at that triple top and due to unload. You have other people who are seeing these infrastructure spendings that were just announced. The president currently not being impeached and that is all good for the economy and robustness. There are forces on both sides that are taking plalce at this area. You can see that it’s taking us from these big, wide-range bar environments to super tight bars. So, really exciting times here. This is going to be an individual stock pickers market.

One thing to mention, on the Wealth365 site as well as what I’m doing at Become A Better Trader, there’s really great articles. Today, we got an article published on energy majors like Exxon Mobile. You can read the article and understand the challenges associated with the earnings, you can focus on the actual individual charts. You’ll notice we had a long-term multi-year rally in Exxon Mobile. What happened was it led to some really nice support levels. Once that support was broken, we look for it to break and re-test it and fail it. That becomes a phenomenal short. That’s what happened for the next year. It went down and spent the next year going back up but failing at that key resistance level. That key support level that was broken became a resistance level. You see how that works? What ended up happening was we went in that multi-year downstroke. If you’re looking to go long, the analysts recommendations put us at 86. Let’s see if we can pull back and make it support, but right now until that time, that’s been rolling over and dying a horrible death. I wanted to bring it to your attention and get the bullish and bearish news that’s up there and set these trades up for what you’re looking for next. If you can make them support and they can become good trades. Over here, if it pushes through here it can become a good long. Late last year, we decided we were looking for long-side trades only if you recall. We got massive 15 month+ resistance. It’s going to be phenomenal and looking forward to working with you on it.

Take care everyone!

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