Airline Index Bounces of Key Retracement and Breaks Trendline
Is this bounce for real or just another dead-cat bounce? The Amex Airline Index ($XAL) hit the 62% retracement area in mid April and surged above the wedge trendline on Tuesday. Also notice that MACD formed a bullish divergence and moved above its signal line. Things are looking up for the airlines.

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