A breakout is expected tomorrow. The target remains the same.
A small range inside day leaves the Elliott wave counts and targets unchanged.
Upwards movement continued as was expected for the short term from last analysis.
Today a candlestick pattern along with signals from VIX indicate the next movement for the short term. The mid-term target remains the same.
Yesterday’s analysis expected a sideways consolidation to continue for a few sessions. Some upwards movement today changes the short-term view slightly to see a bounce continuing, but the mid-term expectation and target remains the same.
An upwards breakout has support from volume today. Elliott wave targets remain the same.
Price is moving sideways and remains range bound.
The main Elliott wave count today has good support from classic technical analysis. The AD line (as an indication of market breadth) and moving averages are used to indicate the most likely breakout direction.
Sideways movement continues within the range that price has been in now for six sessions. The breakout is still expected to be in the same direction.
A breach of an important channel changes the mid-term outlook for the S&P today. Members were warned yesterday that the risk of a pullback was heightened.