XAL has finally taken off

Happy New Year for everyone and successful  investing. To start with the positive mood, let's look at one very positive development.
I've discussed already the possible long term bottom in the air transports some months ago.
Despite recent terror menace airlines have hold very nice. I see a clear 5 waves impulsive pattern unfolding since the retest of March's 09 bottom, meaning airlines are probably the first US industry to get out of the bear market, well, after ......  at least 10 years and ~94% decline.  It's pretty encouraging for other sectors, isn't?

How a real bottom may look like

After Google,  Apple has delivered an excellent quarter, - hardly a surprise for those who plays with  i-phones. Hopefully this news will squeeze some shorts and  push Nasdaq Composite over 2200.
Now, I'd like to look at some long term charts. Do you know a lot of  stock market indexes which have exceeded during this rally the levels of the summer '08. It's quite simple, an airline index which has sold off hardly during the last year oil run to over $140 a barrel, so the last summer they were already in ashes.

And if we look at the long time charts? Does this look like a long term bottom is in?