After surging in March-April, SW Airlines (LUV) went into corrective mode with a falling wedge in May-June. This wedge is still falling, but volume on up days is starting to increase. The bounce in early June occurred on above average volume and Wednesday's volume was the third highest of the month.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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