A little more downwards movement has unfolded as expected.
The Elliott wave count is unchanged.
Upwards movement resumed as expected for the session.
Two Elliott wave counts are published at the daily chart level. The price point which differentiates them is the all time high.
A very small range inside day leaves all Elliott wave counts unchanged.
Despite a bullish move from the AD line yesterday, price has moved strongly lower. The short to mid-term picture is adjusted with new data, but the longer-term picture remains the same. Today the AD line indicates how much more downwards movement may be in store.
A very small range inside day breaches the lower edge of a channel that had previously contained all pullbacks. The short-term Elliott wave count is today changed.
A consolidation or pullback was expected to continue and to be relatively brief and shallow. A small range downwards day fits this expectation.
A small range day remains inside last week’s range leaving all three short-term Elliott wave counts unchanged.
The very short-term analysis on the hourly chart expected a little downwards movement for Thursday, which is what has happened.
The upwards trend was expected to continue this week and so far that is exactly what is happening. The Elliott wave target remains the same.