Price moved higher as the main Elliott wave count expected.
Another small inside day now gives the current consolidation a more typical look. A pennant may be forming.
Sideways movement completes an outside day and fits both Elliott wave counts. This market is again range bound.
Sideways movement was expected for Monday, which is exactly what happened.
The main hourly Elliott wave count was invalidated within the first hour of the session. Two alternate hourly wave counts remained.
A new all time high was expected from last analysis.
The Elliott wave count remains the same and the weekly technical analysis still sounds a strong warning.
An upwards breakout from a bull flag pattern was expected. This looks like what has happened at the end of Friday’s session.
Downwards movement was expected to begin the new trading week. This is not what happened. Upwards movement invalidated the hourly Elliott wave count.
Price is still range bound, completing an inside day. The breakout is now expected to come tomorrow.
Upwards movement continues as the Elliott wave count expects overall at the daily chart level.