I am still bullish Airlines as they look they are still flying in the overall strong bullish Jetstream all equities have been for quite a while. But any top as to be taken seriously as 8 years for a bull market is quite long. We should get a pause sometime this year and to me it is possible the airlines will turn around first.
For the short term, expect some weakness/choppy action that will lead to another push above 280 and then maybe the start of a decline, at best a choppy top formation as the wind shifts direction.
One thing for sure, once Airlines makes new high one should "get off" the plane as it is an index that can be labeled as being in the terminal phase of an impulse wave up from its 2009 low
For the short term, expect some weakness/choppy action that will lead to another push above 280 and then maybe the start of a decline, at best a choppy top formation as the wind shifts direction.
One thing for sure, once Airlines makes new high one should "get off" the plane as it is an index that can be labeled as being in the terminal phase of an impulse wave up from its 2009 low