Only D.B. Cooper Can Turn This Market Now

Days like today make it feel like the market will rise at least 1% per day in perpetuity. After all, we have nonstop 0DTE options traders without a care in the world about SEC scrutiny, a Fed Chair who hems and haws even when he is supposedly hawkish, daily meme stocks like EDTX going bananas to the upside, and mega cap tech like META seemingly defying gravity. It all seems like a new paradigm; a permanently high plateau of stock prices. 

And that, of course, is what we have heard, almost verbatim, in history usually right before a major turn to the downside. 

Perhaps no other sector outside of AI/mega cap tech better illustrates the, "Hey! Look at how robust everything is and how much animal spirits are alive!" ethos than the travel space. 

Specifically, the airlines. 

Delta reported earnings this morning to another, "here we go again" gap up. But as one of our Members just flagged in the final hour here, DAL is now in the red as I write this after a prior, very steep rally since at least Memorial Day. 

The JETS ETF for airlines as a sector, below on the daly chart, is pretty much is inline with DAL, too. Today's reversal will have bulls rolling their eyes and dismissing it as previously having been nullified. That's a fair point but one which often gets them into trouble in due time. You might say bears need to do a D.B. Cooper and surprise hijack the airline sector. 

AAL UAL and especially ALK HA JBLU LUV are also soundly red today even more so than DAL.