Downwards movement was expected after yesterday’s analysis and that is exactly what has happened. Targets remain the same.
A small bounce to end close to 2,717.15 was expected for Monday. Upwards movement has reached slightly above this to a high at 2,718.05 for the session.
The 200 day moving average has rolled over today. It is again positively sloped.
The alternate Elliott wave count has been invalidated, which gives further confidence in the main Elliott wave count.
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.
Downwards movement remains above the invalidation point and within allowable limits.
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.
A small range inside day leaves the Elliott wave count unchanged.
The short term volume profile supports the Elliott wave count.
Last analysis expected for the short term a small amount of downwards movement as most likely to end about 2,892.64. A small downwards day with a low at 2,891.73 fits this expectation almost exactly.
All three short term Elliott wave counts remain the same, as does the daily Elliott wave count.