Sep. 11 at 2:13 PM
$XLK: Yesterday, I mentioned a potential thrust out of Triangle in
$SOXX. Today, we have the confirmation of the same pattern in
$XLK. Since the preceding rally has already been extended, the thrust from the triangle may be the final leg of the move, either a wave 5 or Wave C of a complex corrective pattern.
A wave 5 out of a triangle wave 4 is usually shorter and weaker compared to the wave 3 especially in an extended uptrend.