Monday, August 20, 2012

USO Update

I like what I'm seeing in USO

 USO stops hit this morning

 The bigger picture, the 30 min chart leading negative at the breakout area, the same theme seen market wide over and over whether in 3C, breadth indicators, Risk Assets, etc.

 1 min intraday looks like USO will be making another leg down soon.

 2 min in line, trend confirmation

 3 min in leading negative position as 3C makes new lows

The bigger picture on the 15 min chart as well, the same theme seen in breadth readings as resistance was broken and indicators fell apart after.

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