Congrats to the team for locking in a nice trade on Delta Airlines today
I want to show everyone quickly how to find setups like this.
Is there a technical edge? Yes, 4 hour RSI showing oversold signal which reads as a possible short term bounce
Is it near support or resistance? Yes, 150D SMA
Is there a seasonal edge? Yes, September 2nd historically a bullish day for DAL 0.00%↑
Now lets dive into some more great setups I’m seeing here and reveal the September port.
Market Update
We have seen weakness this week but for a deep selloff we need volume. People often read low volume as bearish but in reality it takes volume to SELL. You will find this in all corrections. Where is the volume you might ask, it won’t be here until after labor day. Therefore, my thesis is that weakness this week is a buying opportunity short term. Two key levels I am focusing on to execute are
