Wednesday, 22 January 2014

11am update - UAL breaks the 2007 high

Perhaps the most notable stock break through of the year so far, is this mornings gain in United Continental (UAL), breaking the 2007 double top high of $48.25. It bodes very bullish for the broader market into 2015/16. Metals remain weak, Gold -$2

UAL, monthly, 9yr


I really do think it is a key sign for the broader market. Whether or not $50 is hit within the next month or two seems not particularly important.

We have a clear break through for a leading airline, and if the airlines are doing okay..the rest of the market will likely be fine.

As for the main market this morning, minor chop continues, but the underlying strength is there for anyone to see.

Notable strength: AAPL, +1%,  UAL, +1.1%