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.
