At the backlink I was looking for more southing by USO:
We got a very nice move up on the 6th that matched the model nicely. I simplified the count below. It might be done already per the red or it might need to get down to the ($9.50 -$9.60 level before bottoming. It could even hit $9.30 because commodities like to extend the 5th wave. But this will not go on very much longer I'll warrant. There are just too many signs including the jobbers not making a new low along with the underlying commodity. FOMO (Fear Of Missing Out) is settling in.
Thursday, January 7, 2016
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