The Next Battlefield Maneuver

Should commodities stage a new leg higher within a reasonable period of time, the refinery stocks continue to look undervalued and under-appreciated. 

Names like CVI PSX and VLO have already run up sharply over the last ten sessions or so, and I would not be chasing them here before a brief consolidation. However, the likes of Holly, below on its daily chart, look to be basing tightly and threatening a $35 breakout. 

Also keep eye on DK for catch-up trade. 

Overall, as the Powell-before-Senate charade continues this morning, equities are in a bit of a mixed holding pattern searching for direction. I still would not be surprised if we see more of this type of action leading into both earnings season and the start of rocky seasonality next week.