Upwards movement was expected. The Elliott wave target has been reached, but the classic technical analysis target using the measured rule has not yet been reached.
A small inside day leaves the analysis mostly the same. The strong floor of support about 2,377 continues to hold.
Upwards movement was expected for Tuesday’s session. The session completed a green daily candlestick, but it was an inside day with no new high.
Downwards movement continued, as expected, and found support at three different trend lines.
A new all time high confirms the main Elliott wave count and invalidates one alternate. Some more confidence may now be had in the targets.
Downwards movement was expected, but it remains within the prior range of sideways movement. There has been no breakout yet.
Although today’s daily candlestick closed green, it made a lower high and a lower low (which is the definition of downwards movement). This was expected for the Elliott wave count.
The short term resistance line on the hourly chart neatly showed where upwards movement for the session ended.
A downwards day remains within the small pattern forming.
Upwards movement continued as expected.
Upwards movement was expected again. A green daily candlestick was printed, but it is technically an inside day with no new high.