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The first time I heard of Spirit Airlines (ticker SAVE), I thought it was a terrible name, since my mind immediately went to plane crash —> ghost –> spirit. I’ve flown them once, I think, and they are famous for cheap fares for charging for every single little thing you might possible want (including bringing a handbag on board or, God forbid, a carry-on piece of luggage). I think their stock performance reflects the general opinion people have of this carrier.
Either the world is a-ok and I’m simply going into waving-cane-at-kids-in-my-yard mode, or else the people of Earth (or at least California) are losing their minds. These two headlines appeared on the same day. Simply beyond belief.
So is this how it’s going to be? A day in which we have some Big Looming Event and have to sit around for it and wait until we actually trade? The biggies tend to be:
That third one is the one we’re dealing with right now. We’re all stuck in the muck until the Next Big Data Point. In the meanwhile, I languorously offer to you the next meaningful resistance level for TSLA, at its gap:
Welcome back from the weekend. We’re still in the throes of the quagmire, or face-off, or whatever other term you want to apply to a market that simply doesn’t know what to do with itself. My most optimistic (that is to say, bearish) point of view is that the resistance at 4200 is still our best friend, and the cyclic nature of the /ES over the past 9 months still suggests an erosion lower.
