Price is nearing the next target and more importantly the upper edge of a multi-year trend channel. A reaction downwards from there would be fairly likely.
Upwards movement unfolded for Friday, which is what the analysis on Thursday had expected. Targets remain the same.
Overall upwards movement was expected. The Elliott wave target remains the same.
Today signals from both the AD line and inverted VIX suggest the next short-term movement. The Elliott wave invalidation point for the main Elliott wave count remains the same.
Price continues to move higher as expected. The Elliott wave target remains the same.
Upwards movement remains below the short-term invalidation point. The Elliott wave counts are swapped over today after analysis of internal volume and breadth in the last two sessions.
A new all time high invalidates the bearish wave count and adds confidence to the bullish wave count. Targets calculated using Fibonacci Ratios between Elliott waves remain the same.
A small upwards day fits expectations for the short term. At the end of the week, volume and breadth are pointing to the direction for next week.
More upwards movement was expected from the S&P500 for Wednesday’s session, which is what has happened.