It was expected that the downside for price was limited. A very slight new low for the session perfectly fits this expectation.
An inside day remains above the invalidation point on the hourly Elliott wave chart.
Another new high was expected, but the sharp pullback during Wednesday’s session was not expected. Price remains well above the invalidation point on the hourly Elliott wave count.
On Balance Volume and the AD line give strong clues today as to what to expect next.
A very small doji for an inside day sees the Elliott wave counts remain the same. The AD line as a measure of market breadth today gives another signal.
Last end of week analysis warned that On Balance Volume supported the alternate Elliott wave count and a target for more upwards movement was given. Price has moved higher as that wave count expected and the On Balance Volume signal is now clear and strong.
Price moved to record new all time high.
Price completed an outside day, mostly sideways movement to close as a small range doji. On Balance Volume gives another important signal today which may tell us what direction price may move tomorrow.
Again, last analysis warned that upwards movement may not be over and outlined what to look for to see if it was. There was room for more upwards movement, which is what has happened. A strong warning may come from On Balance Volume in the next 24 hours.
Last analysis offered a warning in the summary that price may move higher, and may make a new all time high. This is what has happened today.
A quick spike up was expected to begin the week, but it was expected to move just above 2,469.64 before turning. Price has moved comfortably higher, reaching so far to 2,488.95.