Consumer Staples Diamond

By Tim KnightETFsDec 28, 2018 03:39PM ET

www.investing.com/analysis/consumer-staples-diamond-200371667

Consumer Staples Diamond

By Tim Knight | Dec 28, 2018 03:39PM ET

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XLP

-0.29%

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I stumbled upon an extremely well-formed diamond pattern last night with the symbol XLP, which is the consumer staples ETF. I’ve drawn it below with the SlopeCharts polygon tool:

Consumer Staples Select Sector SPDR

The Diamond

The measured move on this is approximately $41, about 20% below current price levels. Not too bad! I’ve drawn a green horizontal to show the target.

Consumer Staples Select Sector SPDR

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Consumer Staples Diamond

The Diamond

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