More on the algos

Take a look at USO vs the Euro

 USO has failed to follow a stronger Euro/weaker $USD, this tells me the arbitrage algos have been manually shut off, apparently they don't want extended long exposure and it would seemingly be over the GDP release. In plain English, they don't want their portfolios chasing anything higher because they are scared they may get stuck with higher positions on a potential market decline.

 There is a small positive in USO, but t hasn't even made it to the 2 min chart below.

I'd say that between the F_E_D disappointment and GDP, there's a bit of fear of a Black Swan as the SKEW Index has shown over the last week at elevated levels.