USO and Energy

Here are some charts for both USO (oil) and Energy (a broader group)...

USO 2 min intraday with a negative at the 11/6 highs and positive at the 11/7-11/8 lows and currently a consolidation.

 USO 5 min in a leading positive divergence, this is a timeframe just beyond intraday and therefore much more important in its signals. Note there is no negative divergence at the 11/6 highs on this timeframe as it was not strong enough to migrate to this longer chart.


 USO 15 min is a very important timeframe, note 3C has been in confirmation of USO's downtrend since QE3 was announced on the 13th with the highs at the 14th of Sept., this is the first real positive divergence on this timeframe since then.

 USO 60 min  shows some interesting trends, especially the negative at the QE3 announcement, but now we have our largest positive divergence since QE3 was announced on a very important timeframe.

 XLE has many of the same features as the market averages, went negative on October 17th, created a range from the 22nd on, also has what appears to be a head fake move below the range with a leading positive divergence in to the move.

 Energy intraday 1 min showing that leading positive divergence I mentioned in the last post (Energy looking interesting this a.m.).

 A leading positive on the 2 min

As well as the 5 min.