Upwards movement continues as last analysis expected it to.
Today’s small pullback is analysed for internal strength or weakness. The Elliott wave count is adjusted for the short term while the mid-term target remains the same.
Another small range day remains tightly constrained between support and resistance.
A developing pattern suggests the direction for a breakout. Targets may be calculated using an Elliott wave count, Fibonacci ratios and classic analysis.
Price has essentially moved sideways for Monday’s session, which is what the Elliott wave count expected.
Upwards movement was expected for last week, which is exactly what has happened.
Both Elliott wave counts remain valid, but the main Elliott wave count has more support from classic technical analysis, particularly market breadth.
Two Elliott wave counts are published now for members. The main Elliott wave count has slightly more support from classic technical analysis.
Upwards movement again continued as the main Elliott wave count expected.
Today the AD line and VIX give a signal for tomorrow’s direction. Fibonacci ratios are used as targets.