Thursday, June 2, 2011

Fishing for Stops?

 DIA has shown improvement on the move lower

 The Q's have shown a lot of improvement.

As has USO.

The SPY/IWM are in line, maybe a hair better, but nothing like the DIA/QQQ which were also the strongest looking 3-c wise yesterday as well. Keep an eye on the USO trendline, a quick dip below it and a recovery above it would have me thinking about a leveraged long like ERX. Or continued improvement, especially if it bleeds over to the 5 min chart.

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