You'll have to forgive me today, I'm a little distracted as my brother (8 years older with no history) had some kind of seizure late yesterday and what was supposed to be an overnight stay in the hospital is quickly turning scary with some of my family's history, so I'm dealing with some phone calls and things that need to be done as I watch the market as well. So forgive me if I'm not as timely as usual with the emails.
Here's USO
Here's USO's earlier positive divergence which was more or less in line with the broader market's. Right now it's trading in line with price with a slight positive bias.
The 5 min chart shows the same divergence and is looking a bit more positive, in a slight leading divergence
The 10-min, unlike the market, is trading down in confirmation with the earlier weakness which raises some questions as to whether USO is coming unhinged from market correlation, I would think it would considering world events.
Finally the 15 minute chart is looking worse today then it has in recent days when I started warning of a correction here. So we may see some brief upside bounce or correction, but I'd still assume the short term- to sub intermediate trend will continue to be down,
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