Another Diamond In The Rough

Add XLB (basic materials) to the list of diamond top patterns.  But not all diamonds are tops. Some are "continuation" patterns as stocks take a breather before heading higher.  Coincidentally it appears MON (which is a component of XLB) could be forming a large HSB as well (right shoulder now).  Stop below $109.20 if you're daring or buy calls.  Hat tip to my daughter on that one!  *lol*  Yes, it runs in the family.

fwiw it appears $DJI broke to the upside yesterday and XLK is trying to break to the upside on it's diamond today..........ahead of FOMC minutes this afternoon.

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