XOM Update

I was looking for $84.50 in XOM to start a position there, we have made it to that level.

 Here's the often seen volatility bounce from a break below a top, although this appears to be only part of a much larger top. I want to start building a short position in this area and XOM will cover energy and large caps. I'm not quite sure how I'll approach this, I'm inclined to use stock rather than options, but may look for some long dated options if they are cheap enough to add a little kick. At this point I don't mind sitting through a little draw down, I just want to get the main position started.

 XOM's 15 min chart was never positively divergent, so I'm not expecting a whole lot more from XOM itself although it should float with the market a bit.

 XOM is in the area of the 5 min leading positive divergence, there's no sign of a negative divergence here yet, but..

 The 1 and 2 min charts above and below have been showing a negative divergence as XOM has climbed higher.

I'll probably not add to big of a position here, but I want to get something started.