Last Friday’s analysis expected the new week to begin with upwards movement that was reasonably likely to make a new high above 2,848.03. A high today at 2,853.21 fits the expectation.
Upwards movement continues as expected.
The Elliott wave and classic analysis targets remain the same.
Last analysis expected that a pullback was complete and upwards movement should resume. This is exactly what has happened so far.
The AD line gives another strong signal today, which offers good support to the Elliott wave count. The short term picture changes with this signal: the main and alternate hourly wave counts are again swapped over today.
The short term target at 2,840 was reached and slightly passed today. This has implications for the Elliott wave structure at the hourly chart level, so new targets have been calculated.