Price remains range bound. Strength within this last session along with the AD line as an indicator of breadth, and VIX as an indicator of volatility, are used to determine the most likely Elliott wave count.
A very small range inside day sees the Elliott wave count slightly changed for the short term. A small triangle may be completing.
A very small range sideways day has prompted a slight change to the short-term outlook. The mid and long-term outlook remains the same and has support from classic technical analysis.
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.