Although there are many key stocks and indices that I’m following which are in the process of backtesting a recently broken key uptrend line or bearish pattern, I’ll just share a few here below. The first is a weekly chart of XOM, the world’s largest company (as measured by market capitalization). As the largest component of the S&P500, where XOM goes will likely have an impact on the US markets. Following XOM are the daily charts of the $DJIA (Dow Jones Industrials) and BAC, another top component of the S&P 500 and proxy for the health of the US and global financial industry.
Note: These charts were made earlier this after but I was unable to access the site due to what my web hosting company described a dual-failure on both upload links to their East Coast server. That was the cause for the site being down earlier today but issue has now been resolved. On a related note, we are still working on restoring the feature that allows those subscribed to receive email notification of new post to select or deselect specific categories such as market analysis, trade setups, etc. and hope to have that completed asap.