Last Wednesday I posted that DAL looked promising after it had an oversold bounce (blue dot). Then on Thursday the stock tanked and traded below the green line. I would have been stopped out because the bounce failed. But DAL held the green line and rose on Friday. I have written many times that the buy signal after a GLB is intact as long as the stock closes repeatedly above the green line. So we will learn this week if it continues to be a tradable GLB and closes only above 63.44.
The GMI remains at 5 (of 6).
Dr Wish, I was going to take DAL, but SKYW seemed to have a high vol sell-off after earnings, and AAL is below the 50-day, but UAL had several high volume down days… so it seemed to me that the industry group was weak. So, I passed.
What has surprised me is that many of the Mag 7 are below the 50-day… AMZN, GOOGL, AAPL (until recently), NVDA (also until recently). I wonder how the market can keep up with the Mag7 lagging. I guess we’ll see!