PSX, VLO update 12/10

Member requested ticker analyses below

PSX: explanation in the monthly candlestick chart below


***********************************************************************VLO: Monthly line chart (shows only closing prices, which is key) Made 5 waves up off the price low made in 2010, but now it’s unclear if primary III is already underway or if only major b of primary II is underway. Price stalled at the 38.2% retrace, which is a bit shallow for a 2nd wave, but not uncommon.