Upwards movement continues towards the Elliott wave and classic technical analysis targets.
Upwards movement was again expected from the main Elliott wave count.
The main Elliott wave count expected upwards movement, which is what has happened for Monday.
Signals today from all of On Balance Volume, inverted VIX and the AD line are all in agreement over the direction for the short term.
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.
Last analysis expected a brief shallow pullback. A small range day, closing as a doji candlestick, perfectly fits this expectation with a slightly lower high and slightly lower low.
The session began with a new high and then continued overall sideways to close as a doji.
The AD line gives another strong signal today.
The main Elliott wave count in last analysis expected upwards movement. This is exactly what is happening.
The last main Elliott wave count expected upwards movement to continue.
An important trend line has been breached today, and the AD line is very close to providing a major signal.
Upwards movement was expected for the session. The session began with a sharp fall, which was then followed by a steady rise to close above the open.
Short term movement fits the Elliott wave count at the hourly chart level very well. The target remains the same.