Diamond Patter in Nasdaq 7-2-18

Hello friends, as can be seen, the Nasdaq futures bounced perfectly off the 0.382 retrace and are now forming a diamond pattern. It looks like momentum is shifting to the bullish side after recent declines. However, this building attempt to go higher could fail and declines could resume. In either case, breaking the boundaries of the diamond pattern would be a classical technical signal to go long or short, respectively.