On Wednesday, we will once again keep a close watch on the oil and gas stocks.  The first on our list is Chevron Corp (CVX), which left a Switch Hitter on the daily chart on Tuesday.  We will be certain to keep a very close eye on the oil indices and futures, as the impact on CVX is typically very highly correlated.

Diamond Offshore Drilling (DO) left the same setup, and will be interesting on sector strength.

The final oil on the watch list on Wednesday will be USX-Marathon Group (the Tom Incorvia special) which left a Double Header setup Tuesday and ispoised for more interesting price action Wednesday.

Retail (RLX.X) pulled back to the significant averages on Tuesday and looks to be ready for a bounce.  But if the slide happens to continue,  we will be watching for Dicks Sporting goods to make a continuation move of  the Monday and Tuesday Fast Ball breakdowns.

Chevron Corp

Diamond Offshore Drilling

USX-Marathon Group

Dicks Sporting Goods

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Adrian Manz is the author of Around The Horn: A Trader's Guide To Consistently Scoring In The Markets and is co-founder of TraderInsight.com. Email him at adrian@traderinsight.com.