Upwards movement was expected for Friday due to bullish signals from the AD line and VIX. A strong upwards day fits the expectation nicely.
Yesterday’s Elliott wave analysis expected price to continue to move lower and reach the first target, which is what has happened.
Analysis since the low on the 9th of February has been bullish. Price continues to rise as expected.
More downwards movement for Friday was expected.
Upwards movement has unfolded for Wednesday’s session as expected from yesterday’s Elliott wave count and technical analysis.
Price overshot a support line and has reversed strongly from just below it.
Volume, RSI and the AD line today all point to the same direction next.
Downwards movement was expected, but the target at 2,749 was inadequate. The degree of labelling of this movement is moved up one degree today, and an alternate will consider it at up two degrees.
A correction was expected to be incomplete and continue for a few more days. The first target at 2,796 was met and passed. The second target has not yet been met.
Upwards movement continues as expected. The target is also now a short term limit.
Upwards movement continued for Friday to another new all time high as the main Elliott wave count expected.