(Note: DOWT is no longer in a bear market after rallying the last two weeks) 2015 was suppose to be just another year of the epic bull market created by reckless central banking policies. Some Wall Street estimates for the S&P 500 were as high as 2,300. Me? I projected a contraction to 1,810 in mid-January. Whether or not the SPX will reach my target within the...
The airline industry has historically been dominated by mature carriers with little prospects of growth. But in today's competitive market, smaller airlines are giving the established guard a run for their money. JetBlue Airways (NASDAQ:JBLU) has been one of the more impressive growth stories in this industry, and investors in this stock have done quite well....
I see either a bullish inverted head and shoulders forming (magenta), or a bearish megaphone pattern forming (blue.) I am personally long, so I am bullish based on continued oil in the 40s, capacity discipline, buybacks, and a strong upcoming quarter with record profits. However, I can also see continued market pressure, FX pressure from the strong dollar, Brazil...
JBLU has shown a strong correlation with USDCAD, as both financial instruments are inversely correlated with oil (shown below). It should also be noted that USDCAD has recently broken out of a cup and handle pattern on the monthly chart and a continued rise could be an early indication of similar price action in the aerospace sector. The wave count for USDCAD...
$AAL is currently undervalued and has 2 bullish technical patterns. The fundamentals should support the bullish patterns particularly the break of the inverse head and shoulders when it happens.
This appears to have been a double top pattern that did not work. Therefore, I feel people will be trapped (those who went bearish) JBLU likely goes higher today. Nice retest gap, breaking the high of a strong bearish candle. IF there's a small pull back to $20.20 ish, decent buying location for longer term swing. 6/19/15 12:38 pm Central
Waiting for a quick bounce as crude oil did last days but looking for a short position for June.
Notes on chart. No positions. Just for fun. What do you think?