Rising wedge hit the 4th time on the tail of election.
Seeing euphoric sentiment. Just closed for the week, but didn't break wedge.
On the watch for next week if we head down to tag the bottom of wedge or continue up to break the rising wedge.
If it break upwards, likely to tag the gap to 270.
If it breaks down, 240. 200 if it continues.
Bearish penant formed on the 1HR for AMEX:SOXL . Looks like a break out after hours and should confirm when Open.
RSI divergence is also present in recent hours.
Measured flag pole downwards tags the macro trend/flag that's formed on the daily.
If Bear flag plays out, price target at about $6.50. Lack of historical support from original rally. RSI may head back down to over sold before any probability of recovering up.
