Retail is dead if you aren't Walmart (WMT) or Amazon (AMZN) but a chart pattern is a chart pattern and what you have on Tiffany (TIF) is a gorgeous triple bottom with just the right amount of sparkle to it. 

The $60 level seems to have insane amounts of support there, because every time it has touched the level going back to January, it has held on like a rock. Now granted, the volatility in this stock can get crazy, and I think if you buy it, you run the risk of another massive non-Amazon, non-Walmart, retail sell-off. 

So know the risk, know that a guidance lower by TIF or an ugly downgrade by some random bank could easily hit this stock. 

On another, but not quite related topic, I've never quite understood the fascination with diamonds. Sure they are nice and clear, but it seems now Tiffany's and other jewelers are so desperate to find new ways to sell diamonds to a cash strapped population that they take the ugly yellow stained diamonds and market them as some kind of must-have diamond for the masses? 

And why do women need diamonds for that matter, in the first place? Do they really expect it to make the marriage better simply because the rock is heavier on their finger? A divorce rate over 50% says that diamonds aren't adding anything to the marriage. 

Enough of me pontificating about meaningless, non-market related matters. Just check out the chart below and pretend I just didn't go that far off course on this post. 

(Click on image to enlarge)