Airlines are flying high, Time to short? absolutely not. Are there divergences? Yes. Is there weak trend? Absolutely on the overall industry group. Will this be a short, Not until the Oil prices finds its bottom.
Yes, this may have trouble flying to new high, if the market is capped with current level. The Usual suspects for the current weakness is from the Sensitive sectors, Techs, Industrial and Energy. Remember these are important, with 40% weight on SPY and 60% weight on QQQ.
Before i get diverted, The next bull mode in SPX/QQQ the airlines are to be watched for.
Also keep an eye on their earnings as it unfolds. FYI - Earning on LUV is 1/22
Commenti
jangseohee
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from Directional POV,
+ve DI is below black signal line, does not look good
i wont rule out a final spike to finally see shooting star :-)
UDAY_C_Santhakumar
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I am only looking for a bounce here. Provided the sector XLI turns bullish as well.
jangseohee
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whats happening bro? LUV got thrashed?
From 47 to 42 in 3 days?
UDAY_C_Santhakumar
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Did I ever say, Buy and hold? Trading is different than investing. If someone is basing investing opinion from 30 Mins Chart - They need help.
jangseohee
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Well said, poor dump money :-)
UDAY_C_Santhakumar
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Which I am willing to provide for a price. ;). I do point out when the target gets hit. Infact this had a nice bonus after earnings. AAL - Still has negative sentiment after the earnings.
jangseohee
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whatever it is i am short now!
UDAY_C_Santhakumar
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A counter trend trader will never agree with a trend trader - We all have our ways to trade. Good luck
jangseohee
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same to you too
UDAY_C_Santhakumar
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With this gap, UAL, DAL, AAL is all hitting resistance. I would take the bullish trigger after a re-tracement, if it holds.
+ve DI is below black signal line, does not look good
i wont rule out a final spike to finally see shooting star :-)