Every name that fell into the prior scan's rout bounced. Booking Holdings ($BKNG) led with a 4.15% gain today, Airbnb ($ABNB) and Royal Caribbean ($RCL) both rose over 1.5%, and Expedia ($EXPE) reclaimed the 200-day average it lost two sessions ago — flipping from 0.5% below the line back to 1.5% above it. Airbnb's own cushion, which had collapsed from 17.2% to 5.0% in the prior scan's session, more than doubled back to 10.3%. Royal Caribbean and Booking both climbed out of outright capitulation (RSI under 25) into the oversold band, though their trend classifiers and death-cross/downtrend tags are unchanged, and both remain the cohort's two worst names on every long-horizon measure. Marriott ($MAR) held its reclaimed 200-day almost exactly flat, still the cohort's cleanest long-horizon trend. No name-specific news pull confirms a cause for today's bounce; it follows two sessions after a Bloomberg piece and a Michael Sikand post both named "online travel agencies" as exposed to AI-agent disintermediation, without covering today's session or naming these tickers.

Data as-of the 2026-09-25 close for all nine tickers, including the cross-listed airline ETF ($JETS). All numbers from the pre-computed travel-leisure summary. Comparison scan: the September 23, 2026 close.

The prior scan described a group of four names — Royal Caribbean, Booking, Airbnb and Expedia — that had all cracked in the same session, three of them (Airbnb, Expedia, and by extension the whole booking-platform group) falling out of intact-trend territory for the first time in this series. All four bounced this scan. Booking rose 4.15% today, the cohort's best single day, on top of a two-session recovery that took its RSI from 21.4 to 33.7 and narrowed its 200-day breach from -15.4% to -10.8%. Airbnb rose 4.02% today; its cushion above its 200-day, which had collapsed to 5.0% in the prior session, rebuilt to 10.3% — more than doubling, though still well short of the 17.2% cushion it carried before the rout. Expedia rose a smaller 0.92% today but crossed the more consequential line: its 200-day position, which had flipped negative to -0.5% last scan, is back to +1.5%, a full reclaim of the line it lost two sessions ago. Royal Caribbean rose 1.56% today and its RSI climbed from 20.5 to 34.6, moving it out of outright capitulation into the oversold band, with its 200-day breach narrowing from -19.8% to -15.5% — the first improvement there after two straight scans of deepening.

None of this bounce carries a confirmed, ticker-specific cause. The prior scan cited a Bloomberg piece dated September 22 naming "online travel agencies" as exposed to AI-agent disintermediation risk from tools like Meta's Muse, alongside a trader post from the same day calling out Expedia and Booking specifically as trading "on the exact short thesis" laid out in an agentic-disruption research note. Both are dated to the session before the rout this scan is bouncing off of, and neither covers today's session or explains why the reaction reversed. News pulls for Royal Caribbean, Booking, Airbnb and Expedia are all within the last two days but return only earnings pages, investor-relations indexes, and general commentary — nothing naming a cause for either the decline or the recovery. Call the recovery a bounce off a two-session-old rout, cause unconfirmed at the ticker level.

The recovery has not repaired the underlying long-horizon standing for the cohort's weakest names. Royal Caribbean's trend classifier remains strong-down with its death cross still confirmed, and its alpha, though it improved from -46.11 to -42.43, is still by far the cohort's worst. Booking's trend tag stayed at "down" and its alpha improved only from -45.02 to -43.71, still the cohort's second-worst. Both names are still down more than 25% over the past year. Carnival and Norwegian, the other two names tagged in collapse with confirmed death crosses, both firmed slightly — Carnival's RSI rose from 30.1 to 36.5 and its 7-day return turned positive (+1.88%), Norwegian's RSI rose from 28.2 to 36.7 with a 7-day return of +3.47% — but their 200-day breaches (-19.2% and -25.4%) remain by far the cohort's deepest, and Carnival still reports earnings September 29, the first read on fuel costs and booking demand directly from a cruise operator since the fuel shock referenced in earlier scans.

Marriott and Hilton, the two names that stood apart from the rest of the cohort's turmoil last scan, both continued roughly as before. Marriott's price and 200-day cushion (+1.2%) held almost exactly flat, its one-year return ticked up to 34.93% and its alpha eased marginally to 17.71 — both still the cohort's best by a wide margin. Hilton's RSI rose from 42.5 to 51.4 and its 200-day gap narrowed from -2.4% to -0.3%, putting it within reach of a reclaim next scan. JETS, the cross-listed airline ETF also covered in this week's airlines scan, reclaimed its own 200-day this scan (-1.0% to +1.5%), consistent with the broader airline strength described there.

• Marriott: RSI 56.9→57.2 (roughly flat, still the cohort's highest reading), trend weak-down unchanged, price $351.66→$352.03, 7D +4.98%→+3.87% (eased slightly, still strong), 30D -2.37%→-1.85% (roughly flat), vs 200-day +1.3%→+1.2% (holding the reclaim from last scan), 1Y +34.3%→+34.93% (roughly flat, still the cohort's best), alpha +18.53→+17.71 (roughly flat, still the cohort's best).
• Royal Caribbean: RSI 20.5→34.6 (rose sharply out of capitulation into the oversold band), trend strong-down unchanged, death cross still confirmed, regime still tagged collapse, price $230.30→$242.70, 7D -9.3%→-1.27% (much improved), 30D -21.4%→-16.31% (improved), vs 200-day -19.8%→-15.5% (narrowed — the first improvement after two straight scans of deepening), 1Y -30.34%→-25.21% (improved), alpha -46.11→-42.43 (improved but still by far the cohort's worst) — rose 1.56% today.
• Booking: RSI 21.4→33.7 (rose out of capitulation), trend down unchanged, price $155.90→$163.95, 7D -9.04%→-2.35% (much improved), 30D -26.93%→-21.51% (improved), vs 200-day -15.4%→-10.8% (narrowed), 1Y -29.25%→-26.49% (improved), alpha -45.02→-43.71 (improved slightly, still the cohort's second-worst) — rose 4.15% today, the cohort's best single day.
• Airbnb: RSI 26.5→38.3 (rose, nearing neutral), trend weak-down unchanged, price $149.58→$157.47, 7D -10.7%→-5.26% (improved, still negative), 30D -21.36%→-16.27% (improved), vs 200-day +5.0%→+10.3% (cushion more than doubled, rebuilding from the near-collapse two scans ago, though still below the 17.2% level before the rout), 1Y +21.12%→+29.34% (improved sharply), alpha +5.35→+12.12 (improved sharply) — rose 4.02% today.
• Expedia: RSI 31.9→35.7 (rose, still oversold), trend down→weak-down (upgraded), price $259.04→$264.17, 7D -9.73%→-5.43% (improved), 30D -23.62%→-20.77% (improved), vs 200-day -0.5%→+1.5% (reclaimed the line it lost last scan), 1Y +17.1%→+22.76% (improved), alpha +1.32→+5.54 (improved) — rose 0.92% today, the smallest gain among the four previously-battered names.
• Hilton: RSI 42.5→51.4 (rose), trend down unchanged, price $307.22→$313.96, 7D +0.52%→+2.69% (improved), 30D -6.92%→-5.59% (improved), vs 200-day -2.4%→-0.3% (narrowed sharply, within reach of a reclaim), 1Y +16.5%→+20.16% (improved), alpha +0.73→+2.94 (improved).
• Carnival: RSI 30.1→36.5 (rose, still below 40), trend strong-down unchanged, death cross still confirmed, regime still tagged collapse, price $21.80→$22.25, 7D -2.46%→+1.88% (turned positive), 30D -15.21%→-13.05% (improved), vs 200-day -21.0%→-19.2% (narrowed slightly, still deep), 1Y -29.01%→-27.0% (improved slightly), alpha -44.79→-44.22 (roughly flat, still broken) — reports earnings September 29.
• Norwegian Cruise Line: RSI 28.2→36.7 (rose), trend strong-down unchanged, death cross still confirmed, regime still tagged collapse, price $14.18→$14.61, 7D -2.41%→+3.47% (turned solidly positive), 30D -17.65%→-14.51% (improved), vs 200-day -27.7%→-25.4% (narrowed slightly, still the cohort's worst by far), 1Y -44.54%→-41.56% (improved slightly), alpha -60.32→-58.78 (roughly flat, still the cohort's worst reading) — rose 2.96% today, the cruise trio's best day.
• JETS (cross-listed airline ETF): RSI 42.7→50.4 (rose), trend down→weak-down (upgraded), price $28.25→$28.98, 7D +1.62%→+2.69% (improved), 30D -4.79%→-2.62% (improved), vs 200-day -1.0%→+1.5% (reclaimed the line this scan) — same underlying data covered in this week's airlines scan, where every airline posted a green session today.

RSI (Relative Strength Index) gauges how aggressively a stock has been bought or sold over roughly the past two weeks, on a 0-100 scale — under 30 signals an oversold, potentially undervalued stretch; over 70 signals overbought, extended risk; readings in between are neutral. Trend reflects a stock's structural direction based on its moving averages over the past several weeks — it is a short-window read, not a verdict on the multi-year story. The one-year change, alpha and distance from the 200-day average are the longer-horizon check, and this scan they mark a partial repair: Expedia's reclaimed 200-day and Airbnb's rebuilt cushion both suggest last scan's break may have been a two-session overshoot rather than a confirmed trend change, though neither is back to where it stood before the rout. Royal Caribbean and Booking climbing out of capitulation is a bounce, not a repair — both remain the cohort's worst names on every longer-horizon measure, with trend tags and alpha readings unchanged from broken. Marriott is still the cohort's cleanest long-horizon trend. Nothing here is a setup; these are screen conditions.

Capitulation, RSI under 25: None this scan — both Royal Caribbean and Booking, capitulation-tier last scan, rose into the oversold band.

Oversold, RSI 25-40: Royal Caribbean (34.6), Booking (33.7), Expedia (35.7), Carnival (36.5) and Norwegian (36.7). Royal Caribbean and Booking arrive here from capitulation; both remain broken on every long-horizon measure. Expedia is recovering toward a full reclaim. Carnival and Norwegian remain structurally broken on every long-horizon measure, unchanged from last scan despite firmer short-term readings.

Neutral to strong, RSI 40+: Marriott (57.2), Hilton (51.4), JETS (50.4) and Airbnb (38.3, just below the line but effectively rejoining this tier on every other measure). Marriott is the only one with a genuinely strong long-horizon record; Hilton is closing in on a 200-day reclaim; JETS reclaimed its own line this scan.

Do Airbnb's and Expedia's rebuilt cushions hold through the next session, confirming the prior scan's break as an overshoot, or does the AI-agent-disintermediation pressure named in the September 22 Bloomberg piece reassert itself? Does Royal Caribbean's and Booking's climb out of capitulation extend into a genuine repair of their still-broken trend tags, or was this a two-session bounce inside an otherwise unchanged collapse? Carnival reports September 29 — the first fuel-cost and booking-demand read straight from a cruise operator since the fuel shock, and the whole trio plus Booking should trade on it. And does Hilton's narrowing 200-day gap (-0.3%) complete a reclaim next scan, joining Marriott and now Expedia and JETS among names that have crossed back above their lines?

• Tape data (price/RSI/SMA/returns/alpha/200-day/regime): pre-computed summaries as of the 2026-09-25 close — travel-leisure.
• Comparison figures: 2026-09-23-travel-leisure (2026-09-23 close).
• Broad-market and discretionary context (SPY, XLY): market-pulse (same 2026-09-25 close).
• AI-agent/consumer-inertia narrative (dated context, not a confirmed cause of this scan's bounce): 2026-09-22-bloomberg-meta-s-muse-drags-down-stocks-that-depend-on-consumer-inerti-tlrty7t9njlx00, 2026-09-23-michaelsikand-expe-and-bkng-getting-nuked-today-on-the-exact-s-31245920.
• Cross-sector read: airlines, chemicals (same close).
• Scheduled event: 2026-09-29-ccl-earnings.
• News/event check per ticker: stocks{MAR,RCL,BKNG,ABNB,EXPE,HLT,CCL,NCLH}/news/latest.json— Royal Caribbean's pull is fresh (September 25) but returns only filings/investor-relations pages; Booking, Airbnb and Expedia pulled September 24, also no event named; Carnival and Norwegian last pulled September 19; Marriott and Hilton stale since June 21.research/stock-events/` has no entry for any of the nine in this window beyond Carnival's scheduled earnings. Drivers unestablished at the ticker level from this data.