Upwards movement to 2,010 was expected by the first Elliott wave count to end a third wave. Price moved only very slightly higher, failing by a wide margin to reach the target, and ended lower for the day in a fourth wave correction for the main Elliott wave count.
Upwards movement continued.
Yesterday’s second wave count expected a little upwards movement, but the target at 2,003 was inadequate.
The Dead Cat Bounce continues.
Downwards movement was expected for the first Elliott wave count.
Sideways movement fits both hourly Elliott wave counts.
Upwards movement was expected, but price again moved sideways in a small range.
Upwards movement was expected.
A little upwards movement to 1,880 was expected. Price moved a lot higher than this though, exceeding the target by 18.16 points.
The upper aqua blue trend line has been breached for the first time since June 2013. I have two Elliott wave counts for you today for each of the bullish and bearish scenarios.
Downwards movement has brought price to touch the upper aqua blue trend line.