Can American (AAL) lead a squeeze in the airlines? Can United (UAL) help it mount a comeback? If you care about today's session, put these five stocks right in front of you: Delta (DAL), Southwest (LUV), UAL, American and Spirit (SAVE).
These were the former leaders that have been crushed endlessly, and two of them -- AAL and UAL -- aren't down. Glory be, this is amazing given the fact that people have been bailing left and right on this group.
Yes, there are still way too many analysts who are bullish. Yes, the numbers are too high. But even the worst dogs have their day, and these are far from the worst given that their earnings aren't going to collapse, they are just going to get cut.
It's the ghost of airlines past that is dogging these.
So, they are the battleground. I wish I can tell you who wins. I will tell you that if the bulls win and AAL/UAL pull the others up, you have some leadership away from the fins, and that may be all the bulls need to snap down this streak in its tracks.