The S&P 500 was down almost 3% yesterday! Big name stocks are falling, and it seems like there is no good stocks to run to. Well, the airline industry might actually be the best place. In march 2021, they started to peak and took a 15% correction. Now, rising rates could actually be good for them. This is because rising rates show a sign of economic demand or growth, and obviously this is great for airlines. Oil is also reaching new highs, which could show that the airlines are going to be flying a lot. Technically, Delta airlines just broke out of a falling wedge they were in, followed by a rising RSI, which shows momentum.
Yesterday, when the average 500 largest companies were down almost 2-3%. Delta airlines outperformed, and only went down .5%. This is the sector you want to be in.
Thanks
Yesterday, when the average 500 largest companies were down almost 2-3%. Delta airlines outperformed, and only went down .5%. This is the sector you want to be in.
Thanks