Upwards movement within a small range fits both hourly Elliott wave counts. Both VIX and the AD line today exhibit some divergence with price. With this divergence for both indicating the same direction, they both point to which hourly Elliott wave count may be more likely tomorrow.
Price has moved strongly lower exactly as the last published Elliott wave count expected.
A small range inside week completes, which is exactly what was expected at the beginning of the week. Price is consolidating.
More sideways movement was expected for Tuesday’s session. Price has moved higher but has not made a new all time high, which fits fairly well with the expectations at the daily chart level.
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.
An outside day remains above support. Classic analysis with a heavy reliance on On Balance Volume is used to determine which Elliott wave count is more likely.
Upwards movement was expected. Price did move higher to begin the session, but fell strongly in the final hours to close red. An outside day was completed.
Downwards movement continued, as expected, and found support at three different trend lines.
Another downwards day has unfolded as expected to start the new trading week. The Elliott wave count remains the same and has support from volume and ADX.
A downwards day was expected for Tuesday’s session.
There are only now two hourly Elliott wave counts.