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Off we go, into the wild blue yonder

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The Airline Index is starting to gain some altitude, but you may want to keep your seatbelt fastened in case we run into some turbulence.

Amex Airline Index (XAL.X) 60-Minute Chart

This morning XAL took off, but is currently in a holding pattern at 139. Should prices continue to climb, I see three points of possible turbulence. The first is the one-month downtrend prices have been in. The second is the previous highs around 141.50. Lastly, I see the 200-period moving holding prices down. Luckily there are emergency exits located at the front and rear of the plane in the form of the 50-period moving average and the up trend line.

Jeffrey Canavan
Assistant Analyst
www.PremierMarkets.com

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