Another downwards day remains above the invalidation point on the main Elliott wave count. Two alternate Elliott wave counts are published for members today.
A small downwards day remains well above the short-term invalidation point. Today VIX and the short-term volume profile offer support to the main Elliott wave count.
A little more downwards movement was expected for Tuesday’s session although the target at 2,667 was inadequate.
Downwards movement remains above the invalidation point and within allowable limits.
An inside day is inconclusive.
Two Elliott wave counts are provided for members today.
A bounce was expected but did not occur today.
Volume and candlestick wicks are used to indicate the most likely direction for tomorrow. Only one Elliott wave count is published today.
Downwards movement remains above the last swing high. At this time, a series of higher highs and higher lows (the definition of an upwards trend) remains in place.
Another signal today from the AD line indicates a new alternate Elliott wave count may be correct.
A small range inside day leaves the Elliott wave count unchanged.
The short term volume profile supports the Elliott wave count.