• The large-cap tech stocks got hit yesterday, but “rotation” into other groups buoyed the market.  That’s good, but if the big names ever get hit in a sustainable manner, the rest of the market will fall with them.
  • The dollar is breaking below a minor support level.  It’s still above its more important support level, but this renewed weakness could/should still have an impact on other asset classes…like commodities.
  • WTI crude oil is close to testing several key resistance levels.  If they can break above those levels, we’ll have to turn more constructive on the energy stocks once again.

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