Selective Delivery Doldrums:
The delivery services space has been a heavy one in 2021. Leaders of years past are no longer so and those who can not adapt underperform. Good examples of that are FDX and UPS, although even there there is a blaring discrepancy as FDX is lower by 7% YTD and UPS is higher by 22%. Less familiar names like AAWW are just 8% off their annual peaks, and this name has an 89.87 double bottom pivot. FWRD has acted well POST breakout from a cup base pivot that aligned with the very round par number taken out on 11/1 in a 6-month pattern, although it is extended at the moment. EXPD trades a bit wide and loose for my taste, but a nice move above 130 level that was a roadblock since July. UPS is making lower highs since a double top at 220 from 10/26 and below is the chart of FDX which by now should not be confounding anyone with its recent softness. Remember trends tend to persist more likely than they are to reverse and expect “stick-shift” issues with this one until a meaningful technical change takes place.