Market View: Airline Index -XAL- break above Monday's high/200 sma at 54.09/54.19-- session high 54.33

Noted the rebound and positive action yesterday in the XAL with potential for follow through after a pause.  Extended the yesterday's slide off the high in opening action but has staged a breakout this morning.  Initial resistance above on a sustained breach of yesterday's high (54.09) is at 54.60/54.70, its 20 day exp is at 55.08 with the 38% retrace off the Feb high and its 200 ema at 55.19/55.35.