I Went to a Fight the Other Night and an Airline Broke Out

"I went to a fight the other night, and a hockey game broke out." -Rodney Dangerfield

That old Rodney Dangerfield joke certainly seems applicable to the airline experience these days, what with a flurry of headlines regarding physical fights aboard major airlines both in the U.S. and around the world. 

And, yet, the airline stocks themselves have largely shrugged off this unflattering news flow. To be sure, a name like SAVE is a notable laggard and should be avoided for now. 

But the majors are sporting charts which look like they are flying the friendly skies of their own respective uptrends, namely AAL DAL LUV UAL. Even though they are not as sexy as, say GOOG or MOMO today, what makes their price action even more impressive is that the transports as a group have been less-than-steller over the last month or two, giving airline bulls every excuse to sell in conjunction with the brutal news flow.

But the have not sold, especially the Buffett/Berkshire holdings in the majors. 

JetBlue is a step down from the majors in terms of market cap. But their new First Class version (called "Mint") is getting rave reviews for its value. 

On the weekly chart for JBLU, below, today's gap higher may be the start of a fresh breakout from the highlighted symmetrical triangle pattern. I will flesh out this pattern and analysis for the airline space and market in general for Members in my usual Midday Video, coming u.