My favorite stock Devon Energy continues to shine as it has for the past two plus weeks since it was a strong buy signal. I expect this stock to move higher, though consolidations can happen at any time, consolidations are buy opportunities unless there is a dramatic reversal in the geo political backdrop. The other related industry is airlines. Higher oil prices are negative for airlines. I expect these to move lower from current levels and I believe airlines such as DAL ($47.32) are candidates for the short side.

In the bigger picture SPY continues with the theme that consolidations are buy opportunities into July. Unless there is a dramatic change in the geo political backdrop, the market looks like it will inch ahead on the Wall of Worry. Buy the leaders on dips. 

Thanks,

Joe