Hello Everyone,
The Consumer Staples ETF, XLP has formed a ascending triangle
near the top of it's range. The 49.67 high would be the number to watch here for a breakout.
ADX is low and possibly heading up showing strength may be coming in as + di has turned to an early buy signal.
March call options could be used for a longer position just under the 50 strike with the IV at the lower end of range.