The "serious bottom" I thought was in for USO turned out to be 1 of 5. I was fooled by the fact that it broke back up into the 4th wave channel before heading back down. But the breakout is not fully confirmed until the top of the 4th wave HT is broken out.
Fortunately, I let my niggling fear about the RUSL chart convince me to sell half on Friday and now I am looking to buy it back 10% cheaper today when I see a wave count that looks complete. Oil is way oversold folks and the dollar chart is stretched to say the least. I think it is telling that both GLD and the dollar are headed up at the same time...
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