Mmm Mmm Good

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In the midst of this surging market, one megacap is shaping up nicely on the short side: 3M. There’s a fairly clean topping pattern floating at the top of this ascending pattern:

0423-MMM

Looking more closely, we can see the elements of the pattern, as well as the horizontal which, I think, makes a sensible stop-loss level.

0423-mmmm