Upwards movement was expected as most likely for Wednesday. The target on the main Elliott wave count remains the same.
Upwards movement completes a candlestick reversal pattern. This and volume indicate the Elliott wave counts should be swapped over today.
For the short term, both hourly Elliott wave counts expected the week to begin with a little upwards movement, which is what has happened.
Upwards movement overall was expected to continue. This is what is happening.
Last analysis expected that a primary degree bearish wave had arrived. Today’s downwards movement overall fits that expectation, although targets were inadequate.
Downwards movement remains above the invalidation point for the main Elliott wave count and above the last swing low on the daily chart. Two Elliott wave counts remain valid.
Another inside day comes with a small signal from the AD line.
Upwards movement is exactly what was expected for the main Elliott wave count.
Volume and ATR are used in this end of week analysis to analyse downwards movement for strength or weakness.
Both Elliott wave counts remain valid, and there is a clear price point which differentiates them.