Price has moved higher for Tuesday as expected. A new high above 2,354.54 supports the main wave count over the alternate.
Monday was expected to be an upwards day, but this is not what happened.
A little downwards movement to below 2,340.51 but not below 2,336.45 was expected during Friday’s session.
Price did move lower, but it made a slight new low below 2,336.45, which was not expected.
Price moved overall upwards with a higher high and a higher low for the session. Upwards movement was expected.
Price moved a little lower before bouncing upwards to close green at the end of the session.
Sale starts Tuesday, March 21st and ends Midnight EST Monday, March 27th.
Downwards movement continued, as expected, and found support at three different trend lines.
Another downwards day has unfolded as expected to start the new trading week. The Elliott wave count remains the same and has support from volume and ADX.
On Friday another downwards day unfolded exactly as expected for the S&P500.
Price moved lower for the session, which was what was expected for the short term from the hourly Elliott wave count.