Yesterday’s analysis expected a bounce for Tuesday’s session. This is what has happened.
Signals from the AD line and VIX at this time are in conflict. On Balance Volume may give a signal tomorrow indicating which of two Elliott wave counts is most likely.
A little upwards movement fits the main Elliott wave count best.
Both Elliott wave counts remain valid.
An upwards day that remains within the current small consolidation zone fits expectations for the main short term Elliott wave count, which expected more sideways movement.
Upwards movement was expected for Tuesday’s session. A higher high and a higher low fits the definition of upwards movement, although the candlestick has closed red.
Upwards movement continues exactly as the main Elliott wave count expects.
A little upwards movement to a target at 2,694 – 2,696 was expected before a resumption of a pullback. Price did gap higher to complete the Elliott wave structure, but fell short of the target by 10.45 points. Thereafter, downwards movement unfolded as was expected overall for the week.
Upwards movement is exactly what was expected from last analysis.
Price continues to move higher as last analysis expected. The targets remain the same.
Yesterday’s Elliott wave analysis expected price to continue to move lower and reach the first target, which is what has happened.