Waiting for the markets reaction to the J.P. Morgan's downward revisions to the airline sector.
At some point, this beaten-down sector is going to start looking like a bargain, just as J.P. Morgan’s warning will no doubt have the opposite effect on diehard contrarians.
The sector has learned to live with high oil prices and, if anything, is poised to surprise to the upside in the third quarter.
*Taken from: www.marketwatch.com
Possible bounce plays for this week according to the Auction Theory concepts and TAS Professional LLC™ Indicator Suite:
Major Airlines: $DAL, $UAL, $AMR, $LCC
$DAL: 5 ▼ daily TAS PRO Dynamic VAP™
Volume increase over the last couple of weeks
Looking for intraday setups.
$UAL: 3 ▼ daily TAS PRO Dynamic VAP™
4 ▼ weekly TAS PRO Dynamic VAP™
Weekly TAS PRO i-Ratio™: -37.72
Volume increase over the last couple of weeks
Looking for intraday setups.
$AMR: 5 ▼ daily TAS PRO Dynamic VAP™
4 ▼ weekly TAS PRO Dynamic VAP™
Daily TAS PRO Navigator™: -47.39
Weekly TAS PRO i-Ratio™: -40.94
Volume increase over the last couple of weeks.
Looking for intraday setups.
$LCC: 3 ▼ weekly TAS PRO Dynamic VAP™
Daily TAS PRO Navigator™: -47.00
Weekly TAS PRO i-Ratio™: -40.94
Volume increase over the last couple of weeks
Looking for intraday setups.
Regional Airlines: $LUV, $JBLU, $HA
$LUV: Daily TAS PRO Navigator™: -43.29
Weekly TAS PRO i-Ratio™: -38.08
Volume increase over the last couple of weeks.
Looking for intraday setups.
$JBLU: 4 ▼ weekly TAS PRO Dynamic VAP™
Daily TAS PRO Navigator™: -39.65
Weekly TAS PRO i-Ratio™: -41.72
Volume increase over the last couple of weeks.
Looking for intraday setups.
$HA: 17 ▼ 60 mins TAS PRO Dynamic VAP™
Daily TAS PRO Navigator™: -36.19
Daily TAS PRO i-Ratio™: -36.57
Weekly TAS PRO i-Ratio™: -41.70
Volume increase over the last couple of weeks.
Looking for intraday setups.
ALWAYS, stick to your trading plan!
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