The market has been on a tear the past four weeks.
Why?
Because the Fed may be done raising rates?
Why?
Because inflation appears to be under control.
And if inflation is under control, what does that mean?
More spending from consumers.
And more trips on cruises.
Royal Caribbean (RCL) has been showing a lot of strength lately, and now it’s nearing a breakout point:
A surge above $110.30 could lead to a big run.
We’ll keep it on our radar.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
