XOM (Exxon Mobil) Big Picture Elliott Wave Count

For the XOM (Exxon Mobil) big picture Elliott Wave count, see the second Weekly View candlestick chart at http://stockcharts.com/charts/gallery.html?xom. After putting in a Cyclical Bull Market cycle high at 94.61 in the Spring of 2008, XOM (Exxon Mobil) did a Wave A Intermediate Term Downcycle to 55.91 in late September 2008 (Wave A down of the Cyclical Bear Market), followed by a countertrend Wave B Intermediate Term Upcycle to 83.22 in December 2008 (Wave B up of the Cyclical Bear Market).

Then, this is another example (actually two examples, all of Wave C down is doing an inverse Elliott Wave 12345 down up down up down pattern, and, Wave 3 down of Wave C is also doing one) of where inverse Elliott Wave 12345 down up down up down patterns are highly useful, see the second Weekly View candlestick chart at http://stockcharts.com/charts/gallery.html?xom, XOM (Exxon Mobil) did a short term Wave 1 downcycle to 72.90 in December 2008 (Wave 1 down of Wave C, of the Cyclical Bear Market since the Spring of 2008), followed by a short term Wave 2 upcycle to 82.32 in very early January 2009 (Wave 2 up of Wave C, of the Cyclical Bear Market since the Spring of 2008).

Then, XOM (Exxon Mobil) entered a big Wave 3 minor intermediate term downcycle in very early January 2009 (Wave 3 down of Wave C down, of the Cyclical Bear Market since the Spring of 2008), that's also doing an inverse Elliott Wave 12345 down up down up down pattern, with XOM (Exxon Mobil) entering Wave 5 down of the big Wave 3 minor intermediate term downcycle last week, note the large bearish spike on the latest bearish red (weekly close below the weekly open) weekly candle (70.43 cycle high), see the second Weekly View candlestick chart at http://stockcharts.com/charts/gallery.html?xom.

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