Further upwards movement was expected. Elliott wave targets remain the same and the Elliott wave count has support from market breadth.
Yesterday’s main Elliott wave count expected more upwards movement, which is exactly what has happened so far.
A small range day moved price slightly higher. This fits the new short-term expectation for the Elliott wave count.
A consolidation was expected to continue. A small downwards day closes as a Doji, which fits expectations.
The upwards trend was expected to resume. A higher high and a higher low fits this expectation. Targets remain the same.
Upwards movement has overall continued as the week expected, but the weekly candlestick has closed as a doji and price ended the week with mostly sideways movement.
Again, upwards movement has continued exactly as last analysis expected. The Elliott wave count has support from classic technical analysis.
Analysis has expected upwards movement, which has continued all week.
Today’s analysis looks at measures of internal strength of the market to determine if this bounce should continue or if it could be complete.
Downwards movement for Friday remains just above the invalidation point and on the support line.
Two alternate Elliott wave counts are published for members today.
More downwards movement was expected for the short term.