A strong upwards day sees the Elliott wave counts swapped over. Targets remain the same.
The internal strength of this upwards day is analysed to determine which Elliott wave count looks more likely.
Upwards movement was expected to continue. A new high today fits this expectation.
The two short-term Elliott wave counts today diverge very slightly, but the larger Elliott wave count remains exactly the same.
A small Doji candlestick today completes an inside day.
Upwards movement has continued for the session as expected. The Elliott wave counts remain the same.
More sideways movement was expected to begin the new week. A small range Doji candlestick exactly fits this expectation. A target for this consolidation to end may now be calculated.
A downwards swing failed to make a new low today. Three out of four short-term Elliott wave counts now remain valid.
Yesterday’s Elliott wave count expected more downwards movement, and this view had support from a Bearish Engulfing candlestick reversal pattern on the daily chart. For today’s session, more downwards movement is what has occurred.
Overall, upwards movement continues as expected. The Elliott wave target remains the same.
Two hourly charts are published today for the short-term picture.
A new high for Monday continues the upwards trend. The Elliott wave count remains the same and the target from the pennant pattern has not yet been met.