TRADE IDEA : XOM (SHORT)

This one should at least be on your watchlist, if not a phased entry. If the character of trade changes dramatically and it makes a break significantly lower, I'd consider jumping in there pretty quick, just make sure you don't have too much exposure to any 1 industry, this of course is energy. XOM's liquidity lends itself to a possible options play (buying puts) rather then a short equity position if you want more leverage on it. Option premiums should still be cheap right now based on the low VIX/Volatility.

 This gap down should be watched, see if it is filled intraday.

The last break-away gap in XOM lead to a quick move down.

 The daily Trend Channel will hold at least a swing trend with a stop just below $86.

 You'd need the 3 day version to hold a bigger move, the stop now would be $87.75.

 The 15 min 3C chart and the cycle.

Even the daily MoneyStream chart looks really bad, worse then the last break down as that only had 1 relative divergence, this has a large leading negative divergence.