11Jan11:06 amEST

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. 

Stock Market Recap 01/10/22 ... Stock Market Recap 01/11/22 ...

 
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