Consumer Diamond

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There is no shortage of interesting patterns right now. One of my favorite continues to be the Consumer Staples Select, which is featuring a very handsome diamond reversal pattern. Here you can see it on the long-term chart. I have used the polygon tool in SlopeCharts to highlight it.

The bounce since December 26th has been historic. You can see how prices have, thus far, done a picture-perfect job of vaulting to precisely the border of the diamond pattern. It’s worth considering.

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