Not-So-Cool Runnings

Crude oil is grinding higher and should be running above its $16.80 breakout point on the USO ETF, seen first below on the 30-minute timeframe. I would only consider a DWTI (triple-short crude) if price falls back under that level on the ETF. Otherwise, crude looks to be simply grinding higher, not particularly exciting to longs playing for a bottom, either. 

And small caps finally resolved lower, lagging the tape today. In addition to the weakness in biotechs and financials, I am expecting most of the rest of the market to follow suit.