What's wrong with Exxon?

This has nothing to do with BP. Shares are back to 2009 lows made at the height of the 2008-2009 crash. Possibly a head and shoulders pattern that started forming in April or July 2009...it's ugly looking though, not sure if it qualifies. If it does, the head is up around $75 with a neckline around $62.5, suggesting a break down to $50 to complete the pattern. Obviously, oil prices fell sharply in the past month, from mid $80s down to $70, but at the crash low, oil was around the $40s. This just pops a red flag because, believe it or not, none of the companies involved in the BP mess in the Gulf are back to their crash lows. RIG is very close, but the others still have a ways to go. Exxon's weakness is much more fundamental.

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