Friday after failing to take out July's high crossing at 108.93. Chevron Corporation* (NYSE: CVX) today reported earnings of $5.4 billion ($2.77 per share – diluted) for the second quarter 2013, compared with $7.2 billion ($3.66 per share – diluted) in the 2012 second quarter. Sales and other operating revenues in the second quarter 2013 were $55 billion, compared to $60 billion in the year ago period. "Our second quarter earnings were down from the very strong level of a year ago,” said Chairman and CEO John Watson. “The decrease was largely due to softer market conditions for crude oil and refined products. Earnings were also reducedThe low range close sets the stage for a steady to lower opening when Monday's night session begins. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near term. Closes above July's high crossing at 108.93 would renew this summer's rally while opening the door for a possible test of weekly resistance crossing at 110.55 later this summer.Stock Market Futures for 8/5/13 The Dow Jones and Stock Market traded mixed on Friday. Will the stock market go up or down on Monday? Keep tabs on the stock market futures which will predict the open on Monday. If you are a stock trader or investor, check out my *stock picks group*. We are making some big trades in there right now. Sign in and sign up. *2013 Biggest Stock Gainers* - *Click Here* *Stock Market Futures - August 5**, 2013* * *Dow Jones Futures - *Down 14* S&P 500 Futures Closes below Tuesday's low crossing at 102.67 would confirm that a short term top , These stocks are active and have the potential to break out this week. *Yelp (YELP)* - Shares of Yelp (YELP) continue to explode after the company reported better than expected earnings this week. YELP is the new Tesla (TSLA) as far as momentum is concerned and the stock is a strong buy on the next major sell off - *More...* *Noodles & Company (NDLS)* - Noodles & Co (NDLS) appears to be breaking out here finally. Right now, NDLS will have resistance between $45-$46 Their latest views were to look for a minor wave 3 top at 1698 with a pullback minor wave 4. They hit that on the nose with a 23.6% fibonacci retracement of minor wave 3 as the index hit 1676. Since that point, TMTF outlined a Wave 5 pattern that should take the SP 500 to 1736-1771. Several weeks ago they patterned out 1768-1771 as a perfect target for a Major wave 3 high. This will be followed by a 125-200 point SP 500 correction above the 10 day moving average is giving crude oil bulls fresh momentum. What will they do with it? You know how we love Fridays, it tells us so much about the "will" of commercial traders. September *crude oil* closed higher on Thursday following Wednesday's Petroleum Inventory that showed declining Midwest diesel supplies. Today's close above the 10 day moving average crossing at 105.80 confirmed that a short term low has been posted. The high range close sets the stage for a steady to higher opening when Friday's night session begins.
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