10Oct10:48 amEST

That Special Diamond at Wal-Mart

Some positive news flow is helping Wal-Mart gap higher this morning, up and out of daily chart base consolidation. 

Recall that it was not too long ago that WMT was considered obsolete, rendered as much by Jeff Bezos and his budding empire destroying all things retail. While we generally respect and accept AMZN's dominance, it is also likely incorrect to assume that being bullish on Amazon equates to a bearish views of the rest--We have been tracking some emerging new leaders in retail, for example, such as Five Below, which are not only surviving but thriving. 

But returning back to WMT, the monthly chart, below, shows a five-year diamond consolidation now threatening to resolve higher. 

Longer-term, you can plainly see the methodical if boring grind sideways and up since the turn of the century. Put another way, WMT is far from obsolete, and it may actually be on the verge of a renewed commitment to dominating their own end of the retail spectrum with recent adjustments they are making to technological innovations. 

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