Boeing and Lockheed just got a big earnings forecast upgrade

For assessing earnings forecasts, I use the Zacks "Price and Consensus" chart. The charts for Boeing, Lockheed-Martin, and Raytheon all show that they got big upgrades of their earnings forecasts last not. I should caution that I have no idea WHY analysts upgraded these aerospace companies' earnings. Maybe it's related to the Trump space force or geopolitical tensions with Iran. But the stocks are moving today in response to the upgrade, and the upgrade was biggest for Boeing. An ETF like DFEN, with a lot of Boeing exposure, looks like a promising bet after the upgrade. Aerospace stocks have been pretty overvalued overall, so until I understand better why the upgrade happened, I am treating this as a short-term swing trade.

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DFEN gained early this morning on Iran news, then pulled back to yesterday's close. I'd say buy the dip, because the combination of raised earnings forecasts and geopolitical strife should be good for this ETF, and I think it may bounce from yesterday's close.