Well, look at that.
After so much doom and gloom lately, something good actually happened.
And that good thing is a bad thing.
Today, the weekly jobless claims showed what economists at Oxford Economics called the “first hint of weakness”.
While jobless claims weren’t in Recession territory, they weren’t great.
And not great is exactly what the market wants.
Because the only way the Fed is going to stop ruining the market is if we move into a Recession.
That’s how a bad jobless number magically turns into good news.
Crazy.
In the meantime, airlines are flying.
We’ve mentioned United Airlines (UAL)recently, and it’s still climbing–even in this negative, mixed-up environment:
So, if United Airlines is rising, are there any other similar stocks doing the same?
Yes, indeed.
Delta Airlines (DAL) has also been showing strength lately:
If DAL breaks above $40.35, we could see a run up to $49.
Everything is tangled up and confusing right now.
That means our job is to follow the stocks that show conviction.
And DAL is making its case.
Happy trading,
Scott
