This morning all the major stock market indexes are declining sharply as geopolitical events become front and center. The energy sector which is such a large part of the S&P 500 Index is extremely weak to start the day. Exxon Mobil Corp.(NYSE:XOM) is the leading integrated energy stock and often a stock market barometer. Today Exxom Mobil will have short term intra-day support around the $68.50 area and much more support around the $68.00 level. Often when Exxon Mobil bounces higher the rest of the energy sector will follow the stock. Should Exxon Mobil decline the major stock market indexes are likely to decline. It is always important to remember that Exxon Mobil Corp. has the largest market capitalization in the stock market at around $355 billion.
Other leading energy stocks to watch for a move with Exxon Mobil will Chevron Corp.(NYSE:CVX), and ConocoPhillips(NYSE:COP). Often these other leading energy names will follow Exxon Mobil Corp.
