GOOD LUCK Short-term, USO retraced 50-61.8% of the February-May advance with a decline back to the 13 area. Such a retracement can be part of a two-steps forward and one-step backward process (a.k.a. an uptrend). The indicator window shows RSI(10) becoming oversold for the second time this year. The February oversold reading coincided with a short-term bottom.
GOOD LUCK TEN-YEAR TREASURY YIELD TUMBLES WITH OIL ... It should come as no surprise to see bond yields tumbling this week along with crude oil. Both markets have been trending higher together over the past year (with a 60-day Correlation Coefficient of .77). And both have similar chart patterns. The daily bars in Chart 3 shows the 10-Year Treasury Yield ($TNX)...