The first Elliott wave count, which was slightly preferred, expected upwards movement for Tuesday’s session, which is what has happened.
Another new low indicated further downwards movement. The target is not yet met.
Three short-term Elliott wave counts are provided 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.
It was expected for Friday that price may move lower, which is what happened.
A test of support about 2,912 was expected to begin the new trading week, which is exactly what has happened.
Identified support at the last gap remains open today, but only just. A clear price point is given to members, which will indicate a change from bull to bear if it is passed.
Today’s small shallow correction fits the overall expectation of the main Elliott wave count.
Downwards movement continued for Monday exactly as was expected for the short term from last Friday’s analysis.
Today’s signals from On Balance Volume, the AD line and VIX all point to the same direction for price next.
Three short term Elliott wave counts are provided for members to consider all possibilities.