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Delta Air Lines along with UAL are two of the top performing stocks within ^SPX-1.58%  today and DAL after its rosy 2Q forecast and Earnings beat is rising near a very important area of trendline resistance- Above 50 would cause "Liftoff" for DAL8.91%  allowing for a push up to 60 or higher. Airlines have come alive in recent weeks as travel demand remains strong despite higher Gasoline prices. Overall, I'm positive on DAL but feel that a move above 50 warrants Adding to longs, technically as this would cause the stock to accelerate upon breakout. One to watch for now as it approaches this key level

Today's market action is largely defensive in US Stocks, being led by Cons Staples (PG-2.18% ,CHD-1.12% ,EL-0.29% ,KMB-1.82%  leading) while Telecom also making good strides on positive VZ news. Airliner stocks likeUAL3.28% ,LUV0.73% , andAAL4.20%  along withDAL8.91%  are all up more than 3%. SPX is lower by jjust 6 points, but strength is largely only in major groups like Comm Svcs +0.90% and Staples +0.50 while REITS, Discretionary, and Healthcare are all lower by -0.50-0.75%. US Dollar along with Yields are both pushing higher again, and this move looks likely to extend into February before a turn back lower. The chart below is VZ, as Telecom lead strength within the Comm Svcs group- Note that VZ bottomed at nearly exact 50% absolute retracement of its peak in late 2020, and has turned up sharply in recent weeks. VZ target is in the mid-40s where i expect this will encounter resistance before it gets above its own 50% retracement level- Telecom attractive for short-term only given this recent surge in momentum, but both T and VZ, have meaningful intermediate-term downtrends and expect this slows both these stocks over next month. For those sniffing out Telecom, its TMUS that stands out as being most attractive- Below is Verizon -VZ-2.98%