The target for the next interruption to the trend was at 3,415. Upwards movement has fallen 21.48 points short of this target.
Upwards movement to new all time highs continues exactly as the main Elliott wave count expects. The target remains the same.
A small range downwards day remains above the multi-year trend line.
A new alternate Elliott wave count is published today.
Commentary and charts of Lara’s Weekly, an end of week Elliott Wave and Technical Analysis of the S&P 500 and GOLD and USOIL, for week ending 14 February 2020 is published on the Elliott Wave Gold website. You can access the analysis here.
Video of Lara’s Weekly, an end of week Elliott Wave and Technical Analysis of the S&P 500 and GOLD and USOIL, for week ending 14 February 2020 is published on the Elliott Wave Gold website. You can access the analysis here.
An inside day to end the session prints a Dragonfly Doji. In the context of an upwards trend, this is bullish.
The alternate Elliott wave count was invalidated this week leaving only the one main Elliott wave count at this time. Targets remain the same.
Another new all time high was expected. Downwards movement within the session remains above the short-term invalidation point.
The bull market continues as this analysis has been expecting for months now.
A new high above 3,375.63 indicated more upwards movement was expected. The next target remains the same.
Today both Elliott wave counts remain valid. Specific price points will be used to identify which is most likely tomorrow.