Price remains range bound as has been expected for the week. The Elliott wave count remains the same.
Some consolidation or pullback was expected to have begun at the end of last week. An outside day, which closes red overall, fits this expectation as at the close price was little changed from the end of last week.
Price is moving sideways, which fits the first expectation for this week.
Both the AD line and VIX at the end of the week give the same signal. In conjunction with Lowry’s data, this indicates a more bullish scenario should be dominant.
The Elliott wave count has a new short to mid-term target.
Upwards movement continues as expected.
A new Elliott wave count at the monthly chart level is presented.
A high today at 2,936.83 is very close to the last all time high at 2,940.91.
The Elliott wave count has been expecting the last all time high at 2,940.91 to be challenged for many weeks now.
Upwards movement continues as expected. The Elliott wave targets remain the same.