The Airline ETF (FAA) and Spot Light Crude ($WTIC) were moving in the same direction from July to mid October, but went their separate was in late October. Spot Light Crude surged above 100 in November as the Airline ETF tested its early October low. Airlines are clearly not happy with rising oil prices as the ETF underperforms the broader market.
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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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