AMEX:USO   UNITED STATES OIL FUND
37 3 2
While I'm not thrilled with today's pop, price is still below resistance. Nothing will change unless resistance is broken above 10.25.
USO has dropped from a brief visit to the resistance box. Let's see if we can get a confident 5 waves down. IF so, then a 3-wave retrace back around today's high should set up a short with better-defined R/R.
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Spike to 10.13 makes the triangle potential I just posted unlikely. I'd prefer to see 4 end here, but since when does a 4th wave meet expectations? VXX didn't cooperate either...
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4th waves are the nastiest. Here's a triangle alternative on the micro count.
snapshot
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