USO Update

 USO's breakout today, Volume is still highly suspect which makes the breakout suspect as a possible head fake.

 The 1 min chart looks like USO will see a little intraday upside relief, but this divergence is very early in the making and not large by any means.

 The 5 min chart looks like today's breakout is a head fake, 3C failed to move to a higher high, thus we have a negative divergence right off the open.

 Worse yet, the 10 min chart of USO has moved to a leading negative divergence.

And the 15 min chart, although perhaps a little early to look at, is still not confirming the breakout.

At this point, for short term traders, I would consider using any intraday strength to try out a short on USO via DTO with a stop probably near the intraday lows.