DAL - gains on a down day

Whilst the US equity indexes saw some weakness in the late morning, there was notable resilience in the airlines. Delta Air lines (DAL) closed higher by a significant 1.8% @ $38.04. A break over $39 will open up the mid/upper 40s by September.


DAL, daily

Summary

Little to add from recent posts on Delta (same applies for AAL, and UAL).

Broader trend remains to the upside, and if you believe that the sp'2100s are likely later this year/early 2015, then the airlines should continue to rally.

Further, so long as Oil can remain under the rather critical $110 threshold, there should be no concerns about fuel costs.