Before the Open

Microsoft’s stock has been lagging badly during the recent bounce.  We’ll be watching two key levels for clues as to whether this important stock can play catch up….or if it fails.

Despite the underperformance in recent months, the energy sector’s trend of “higher-lows/higher-highs” remains intact…and there are reasons to think that this group can surprise everybody and outperform over the rest of this year.

We saw something in the action of the tech sector yesterday that might (repeat, MIGHT) be telling us that they’re in for some weakness…at least over the near-term.

We still think the action during the "next dip" will be key. We just need a "next dip" to actually take place...so that we can figure out what's next!

The energy stocks have underperformed the stock market during this bounce...even though crude oil has remained range-bound. This is creating a nice buying opportunity.