An inside day remains above the invalidation point on the hourly Elliott wave chart.
Last analysis was clear: the trend is still up. A new all time high was therefore expected as most likely.
A very small inside day leaves the Elliott wave counts mostly unchanged.
Downwards movement was expected for Monday. This did not happen, but price has remained below the invalidation point on the hourly chart and at the end of Monday’s session has returned to within the channel.
Downwards movement is again unfolding as the Elliott wave count and classic technical analysis expected.
Another very small range day moved price essentially sideways fitting the Elliott wave count for the short term.
Two hourly Elliott wave counts are provided to end the year, with the one daily Elliott wave count remaining the same.
Price remains above the invalidation point on the hourly Elliott wave count.
The small downwards movement for today still fits with overall expectations.
Upwards movement to a short term target at 2,139.50 was expected.
Upwards movement did unfold, but reached 7.37 points above the target.
Last Elliott wave analysis expected Wednesday’s session to begin with a little downwards movement to end close to 2,140. Thereafter, it was expected that price would turn upwards.
The low for the session was 2,131.59. The session closed green although it made a lower low and lower high, so overall price moved downwards.
Upwards movement was expected from the main Elliott wave count for Thursday’s session.
This did not happen. Price moved lower and sideways to complete a small red doji.