Staples at Risk

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Of the seven different put options positions I’ve got, XLP (Consumer Staples) is probably my favorite, because its pattern is cleanest. From a long-term perspective, its uptrend is broken, even in this stupid new-highs-every-day market of ours:

slopechart_XLP (1)

Looking closer, you can see the topping pattern is almost complete. A break below 53.52 would seal the deal.

slopechart_XLP

I think staples are definitely at risk.

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