10Oct1:16 pmEST

Another Long Shot at the Copa

As a quick follow-up to this blog post from around Labor Day, the South American airlines continue to operate impressively and are decidedly off the radar of many traders. 

Whether it be AZUL, below on the daily timeframe, setting back up on the long side above $29, or Copa (CPA), GOL, LTM (with AVH as a catch-up play) South American growth remains very much reflected via these airline charts. This strength, of course, coincides with the EEM flexing today along with EWZ (Brazil) bouncing back nicely from a mild dip. Also note South American banks are mostly sporting clean uptrends, to boot. 

Thus, I am looking to see whether this theme persists deep into the fourth quarter and especially beyond tomorrow afternoon's Fed Minutes, insofar as the emerging markets' general reaction to the subtext of those Minutes. 

More on the market today in my usual Midday Video for Members

That Special Diamond at Wal-... Rorschach Tests


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