Here’s a chart of Boeing which is showing great relative strength. It’s been consolidating last’s weeks gains on declining volume and is holding above its 50-day moving average. The only thing I don’t like is that gap just above. I’d certainly be holding if I was already long. But with that gap acting as (potential) resistance I don’t like the risk:reward for a new long — it looks to be about 1:1 assuming a stop just under the 50-day moving average.
