Whilst the main market was effectively flat across the day, there was notable weakness in the airline stocks. Delta Airlines (DAL) and United Continental (UAL) saw very significant declines of -5.2% and -7.1% respectively Immediate outlook is bearish, before the primary uptrend resumes.
*I don't chart Delta, but I thought I'd include it anyway, since it was largely the cause of today's sector weakness
Delta marginally missed on June flight data, and Mr Market was arguably pretty harsh with today's smack down.
Thursday looks set to see at least a little further downside. Perhaps next week will also be a little weak, but the broader trend for the airlines will surely resume to the upside into August.