The Elliott wave count expected a continuation of a sideways correction. Price remains range bound. For the short term price was expected to move lower, which has happened.
Upwards movement to a target at 2,448 to 2,450 was expected. Price moved higher to reach 2,446.20 before turning strongly downwards on Friday. Price fell just 1.8 points short of the 2 point target zone.
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.
The short term expected downwards movement for Wednesday, which again did not happen.
A strong whipsaw moved below the short term invalidation point on the hourly Elliott wave count. However, downwards movement was quickly retraced and today’s candlestick looks very bullish.
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.
Price is range bound. A small red doji does not change the Elliott wave count.
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.
A small pullback was expected to unfold here or shortly. An upwards day closes red, with a long upper wick on the candlestick. This looks like a small pullback may have begun at the end of this session.