A short-term pullback was expected to begin on Friday, but this did not eventuate. Overall, an upwards trend was expected to be in place and this continues. The target remains the same.
More upwards movement fits the mid-term expectation for the Elliott wave count, although another test of support was expected first.
An inside day closes red. The candlestick for Friday offers a clue as to what looks most likely for Monday.
Again, price continues to move higher as the main Elliott wave count has been expecting for this week. The target is calculated using Elliott wave and classic technical analysis methods.
A small range upwards day completes a significant candlestick pattern. This is analysed today in context with signals from On Balance Volume and the AD line.
For the very short term, for Friday’s session, a pullback to about 2,828 was expected. A pullback did unfold but was deeper than expected, reaching 2,808.
More upwards movement was expected for Tuesday’s session, which is exactly what happened.
Further upwards movement continues as expected with a higher high and a higher low for the session.
The AD line continues to provide reliable signals.