Anyone following the minute by minute news about the spread of the coronavirus is very much aware of the closures and cancellations of conferences, resorts, Broadway theaters, flights from Europe and cruises. Investors may be trying to decide if this is just a temporary hit to revenue and earnings or a more permanent "new normal". That is above my pay grade so let's just look at the charts of Royal Caribbean Cruises (RCL) .
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Shares have rebounded smartly to challenge the declining 50-day moving average line.
The detrended Rydex ratio remains very bullish.
When I scan the restaurant space, I remain perplexed, wondering not only when they might be able to reopen, but also how quickly consumers will come back, and to what degree?
This is still a very difficult market for individual stock picking as the action is strongly correlated.