Chart of the Day - Tuesday, August 24th, 2021

Today’s Chart of the Day was shared by Steve Strazza (@sstrazza). It's a daily candlestick chart of the Modern Travel ETF, $AWAY, over the past 1.5 years. The top 5 holdings in the ETF include; Trainline ($TRN), Airbnb ($ABNB), Bookings Holdings ($BKNG), Uber ($UBER), and MakeMyTrip Ltd. ($MMYT). Steve points out that this group of "travel tech" stocks is finding support at a familiar level around $25. In a comment to The Chart Report, Steve said, "If the bears cant kill the WORST STOCKS, how are they ever going to take control of the broader market? These stocks have been the laggards, and yet, buyers continue to defend crucial support. Take a look at the airlines ($JETS), it's the same story. I think there's some valuable information to be gleaned from that resilience, and it can only be interpreted as bullish for the broader market.