Before the Open

Crude oil is holding above its key resistance level.  This should cause the energy stocks to play catch up in a big way going forward…given how much the group has lagged behind its underlying commodity over the past month.

A lot of investors want to know which stocks and groups will outperform in the second half of this year.  Well, one very important stock broke above a critical resistance level yesterday.  So, if it can hold that level going forward, it’s going to bode very well for the stock.

One of the key ETF’s for the biotech sector is showing signs that the group could be on the verge of an important breakout.

Japan's yen is testing its lows from late-April. Whether the BOJ does something more concrete to defend their currency…or not…will be critical.  This is especially true given that the yen has been such an important currency for the “carry trade.”

Overbought groups can see outsized declines…even if their fundamental outlook remains strong.