A new low indicated further downwards movement. The target at 2,612 was not met.
Downwards movement was again expected for the new week, which is what has happened.
Three Elliott wave counts remain valid. The first two have a higher probability.
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.
Upwards movement was expected to continue. Today’s higher high and a higher low fits the definition of upwards movement.
Upwards movement indicates an alternate Elliott wave count looks more likely.
Today two Elliott wave counts are again presented as options.
A little upwards movement was expected to begin the new week, which is what has happened.
Downwards movement continued as expected, although the short term target was again inadequate.
Yesterday’s analysis expected a bounce for Tuesday’s session. This is what has happened.
A new swing low at the daily chart level indicates the Elliott wave counts should now be swapped over.