[USO] update

At the backlink I posted the model below.



However, additional data is now making me wonder if the new count below should not be the primary.  We should know in a couple days but just eeking out a new high after a HT instead of going strongly up per above model suggests that the HT was 4 of 1, not B of 4.  Time will tell but rest assured that the market will end up doing what the least number of people believe is possible.

This market is highly conflicted between listening to the permabulls and listening to voices like Shiller and Dent and others calling for a more significant correction.  Thus, volatility will be the norm and stop loss orders are mandatory in this environment to avoid blowing up your account if you are betting heavily.