An upwards breakout with support from volume suggests a new Elliott wave count.
Price moved overall lower as yesterday’s analysis expected.
Upwards movement has continued all week exactly as expected.
Price has reached the target and exceeded it by 2.47 points, but the Elliott wave structure is incomplete. A new target is calculated.
Upwards movement continues as the main Elliott wave count expects.
Another downwards day remains above the invalidation point on the main Elliott wave count. Two alternate Elliott wave counts are published for members today.
Upwards movement was expected. A higher high and a higher low today fits the basic definition of an upwards day. The Elliott wave target remains the same.
A little more downwards movement was expected for Tuesday’s session although the target at 2,667 was inadequate.