If history is any guide, there may be trouble ahead for shares of Hess(NYSE:HES). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.
What To Know: Many traders use moving average crossover systems to make their decisions.
Oil futures (/CL) are up 1% this morning ahead of the crude oil inventories report. While the NY Empire State Manufacturing Index was nearly double forecast. However, the news failed to move markets.