Upwards movement completes a candlestick reversal pattern. This and volume indicate the Elliott wave counts should be swapped over today.
Upwards movement overall was expected to continue. This is what is happening.
The first Elliott wave count, which was slightly preferred, expected upwards movement for Tuesday’s session, which is what has happened.
Another new low indicated further downwards movement. The target is not yet met.
Three short-term Elliott wave counts are provided today.
Another inside day comes with a small signal from the AD line.
It was expected for Friday that price may move lower, which is what happened.
Volume and ATR are used in this end of week analysis to analyse downwards movement for strength or weakness.
Both Elliott wave counts remain valid, and there is a clear price point which differentiates them.
Identified support at the last gap remains open today, but only just. A clear price point is given to members, which will indicate a change from bull to bear if it is passed.