Upwards movement was expected to begin the new week. The Elliott wave target remains the same. The breakaway gap continues to provide support.
An inside day closes red. Upwards movement was expected today. Price remains above the short-term invalidation point, and the session ended strongly.
An upwards breakout from a consolidation was expected. The Elliott wave target remains the same.
The main Elliott wave count has very strong support from classic technical analysis, particularly the AD line.
Price remains range bound with resistance about 2,940 and support about 2,920. The breakout is still expected to be in the same direction. Targets remain the same.
A sideways inside day to end the trading week leaves both Elliott wave counts essentially the same.
Classic technical analysis favours the main Elliott wave count.
A strong upwards day sees the Elliott wave counts swapped over. Targets remain the same.
Downwards movement remains above the invalidation point on the daily chart. The short-term hourly chart is today relabelled after the pullback of this session.
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.
Further upwards movement continues as expected from the Elliott wave count.