Of the seven different put options positions I’ve got, XLP (Consumer Staples) is probably my favorite, because its pattern is cleanest.
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:
Looking closer, you can see the topping pattern is almost complete. A break below 53.52 would seal the deal.
I think staples are definitely at risk.
This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.
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