Another downwards day remains above the invalidation point on the main Elliott wave count. Two alternate Elliott wave counts are published for members today.
Upwards movement was expected. A higher high and a higher low today fits the basic definition of an upwards day. The Elliott wave target remains the same.
A little more downwards movement was expected for Tuesday’s session although the target at 2,667 was inadequate.
To end the week, upwards movement has continued as expected.
An inside day is inconclusive.
Two Elliott wave counts are provided for members today.
More downwards movement to a target at 2,698 was expected. The low for Monday at 2,691.43 is 6.57 points below the target.
Downwards movement remains above the last swing high. At this time, a series of higher highs and higher lows (the definition of an upwards trend) remains in place.
Another signal today from the AD line indicates a new alternate Elliott wave count may be correct.
A test of support about 2,912 was expected to begin the new trading week, which is exactly what has happened.