An outside day for Friday closes green as the S&P500 ends with a little strength into the close. This is what the main Elliott wave count has expected, and it now has support from classic technical analysis this week.
Sideways movement continues but now all of On Balance Volume, the AD line, and inverted VIX give the same signals. The Elliott wave count is updated.
Price moved overall lower as yesterday’s analysis expected.
Upwards movement continues as the main Elliott wave count expects.
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.
To end the week, upwards movement has continued as expected.
More downwards movement to a target at 2,698 was expected. The low for Monday at 2,691.43 is 6.57 points below the target.
A test of support about 2,912 was expected to begin the new trading week, which is exactly what has happened.