diamond tops (1)

Admin

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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