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The airline sector was one of the hardest-hit during Covid, but the bounceback – – thanks to hundreds of billions of dollars of free cash from the U.S. government – – has been quite spectacular. Some charts have blown right through obvious zones of resistance……….

slopechart JBLU

………while others are at important junctures, making it unclear whether the corporate welfare rally will continue or not.

slopechart UAL

The one large domestic carrier which looks close to meaningful resistance is American:

slopechart AAL

While non-U.S. carriers (perhaps because they aren’t getting free money shoveled their way) are looking more vulnerable.

slopechart AZUL
slopechart GOL