The on-again off-again Airline ETF (FAA) surged off support with a big move on Monday. After plunging in mid July, the ETF found support and then moved above its late July high. Also notice that Aroon Up surged above Aroon Down. You can read more on Aroon in our ChartSchool.
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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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