USO Update

Crude long is seemingly the impossible trade, however we entered a smaller call position Monday, Trade Idea (Short term Call/Options) USO  based on 3C signals and $USDX signals.

It looks like USO and Brent are starting an upside move. This isn't a trade I want a lot of exposure to and not on a long term basis which is why I chose the leverage of options for the position, that and I don't care for the leveraged WTI ETFs, but I did give myself plenty of time with November 22nd expiration just in case...

 Interestingly USO's positive divegrence starts at the same time as most of the averages, this is the start of accumulation, not the end, again October 2nd.

 The 5 min chart is in a huge leading positive divegrence, while I wouldn't be surprised to see volatility or the jiggles, this looks like a very strong base for a trade, again Oct. 2nd plays prominently.

And the near term intraday which was leading Monday has just added more to that, this is a beautiful reversal process, I wish there were more like this in the averages, again Oct. 2nd.