Daily Market News - 4th Oct
Daily Market News
4th October 2021
The Airlines
With global travel starting to open up, over here in the U.K, we’re now able to travel unrestricted to many destinations across the world.
The UK government have now scrapped the Green, Amber and Red list countries in favour of a simplified system of “go or no go countries”. Today there’s been a mass exodus from the UK for holidaymakers looking to grab the last of the Autumn sunshine in warmer countries (including the US), so it now makes sense to me that I take a look at the Travel / Airline stocks in detail.
If we take a look at the performance of the top 5 sectors last week, the JETS ETF has caught my attention given the relative performance vs the S&P 500 (which had a down week).
The chart just hasn’t been interesting to me, but that could be about to change.
US Global Jets ETF (JETS)
If we take a look at the chart, we can see some real strength being shown on a break out ABOVE the 200 Day Simple Moving Average (which is a significant level for my work) and if there’s a break out of the highlighted trend line with follow through on last weeks relative performance, the Airlines could potentially be poised for a period of out performance. I
It may be worth doing some due diligence on the Airlines in case they do break out, and of course, there are some that are setting up better than others which I’ve communicated to Premium Members this weekend.
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