Energy—the biggest underperformer in the S&P 500 sectors so far this year—has started to show some signs that oil and gas stocks may be close to breaking out of the downward trend. The selloff in energy stocks and energy-tracking funds may have been overdone, says Jonas Elmerraji, senior market analyst at Baltimore-based Agora Financial and a contributor to TheStreet. The SPDR S&P Oil & Gas Exploration & Production (XOP) exchange-traded fund broke out this week of a downward trend that had seen the ETF lose 30…
