Downwards movement today indicated the alternate wave counts may be correct. Price has closed above the support line.
A little more downwards movement towards the target has unfolded as expected.
Price remains within the narrow channel on the hourly chart.
Downwards movement was expected for the short term. Although price did not make a new low, the candlestick for Friday closed red and the upper wick was long. Overall, this fits expectations.
A new all time high was expected for the main preferred Elliott wave count.
Members were advised that a pullback looked to be complete as early as the 11th of September, just two days from the last low.
Upwards movement continues exactly as the Elliott wave count expects.
On Balance Volume gives a new signal today to support the Elliott wave analysis.
An upwards day fits expectations for the main short term Elliott wave count.
Sideways movement for Monday’s session remains within the Elliott wave channel on the hourly chart.
Four signals in a row from the AD line prompt a new hourly Elliott wave count.
A new low below 2,742.24 at the start of the session indicated an alternate Elliott wave count was correct, which expected a deeper pullback to about 2,721. Price moved lower to reach down to 2,698.67.