Market/USO

SPY a min-leading positive divergence...

In red is the area I mentioned a few updates ago about a break below the support (intraday) before a move up started.

On the 15 min chart, SPY still looks bad.

USO 1 min-looks as if it's being heavily discounted. This is why I mentioned several times last week that I'd be trailing a stop on this one.

The 15 min longer term chart is also looking like a reversal in USO is coming. These are short to intermediate term charts. I do still think that later this month the path of least resistance for oil/USO will be higher, but I wouldn't ride this out, I'd take my profits on a trailing stop and wait for the next opportunity.

And here's the area in which I'd have that stop trailing, depending on how tight you want it, between $41.90 and $42.20 as of now, the stop should continue to rise (try a 22 bar average on a 30-60 min chart as a proxy for the trend channel).