Downwards movement was expected to begin the new trading week. This is not what happened. Upwards movement invalidated the hourly Elliott wave count.
Price is still range bound, completing an inside day. The breakout is now expected to come tomorrow.
Upwards movement continues as the Elliott wave count expects overall at the daily chart level.
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.
Price moved overall upwards with a higher high and a higher low for the session. Upwards movement was expected.
Downwards movement continued, as expected, and found support at three different trend lines.
On Friday another downwards day unfolded exactly as expected for the S&P500.
A very short term target expected some upwards movement for one or two days to a target zone at 2,380 to 2,383. Price moved higher as expected for Wednesday’s session, reaching 2,390.01.
Downwards movement is unfolding as the Elliott wave count and classic technical analysis expected.