An interruption to the upwards trend was expected to come before 3,174.78. Today the AD line and VIX may indicate whether this interruption has arrived early or not.
A little more downwards movement has unfolded as expected.
Today both the AD line and inverted VIX give signals that support the main Elliott wave count.
The Elliott wave count is unchanged.
Downwards movement for Friday was expected for the short term.
This week saw price move upwards as expected, with a higher high and a higher low.
Upwards movement resumed as expected for the session.
Two Elliott wave counts are published at the daily chart level. The price point which differentiates them is the all time high.
Today the AD line, On Balance Volume and inverted VIX give signals which support alternate Elliott wave counts. Price remains range bound. The alternate Elliott wave counts expect the same direction for the breakout.
A very small range inside day leaves all Elliott wave counts unchanged.
Yesterday’s analysis expected further downwards movement. The AD line indicates how much more may be expected.