A correction was expected for this week. Price remains within the channel on the daily chart as expected.
Another small range day remains below the last high. Overall, this fits the short-term expectation for the Elliott wave count.
Today On Balance Volume and the AD line indicate the likely form of this current correction.
Upwards movement has continued as expected. The target remains the same.
Upwards movement continues as last analysis expected it to.
Another small range day remains tightly constrained between support and resistance.
A developing pattern suggests the direction for a breakout. Targets may be calculated using an Elliott wave count, Fibonacci ratios and classic analysis.
Upwards movement was expected for last week, which is exactly what has happened.
Both Elliott wave counts remain valid, but the main Elliott wave count has more support from classic technical analysis, particularly market breadth.
Upwards movement again continued as the main Elliott wave count expected.
Today the AD line and VIX give a signal for tomorrow’s direction. Fibonacci ratios are used as targets.
A little more upwards movement was expected from the short-term hourly Elliott wave count.
Downwards movement continued as expected, although the short term target was again inadequate.