Downwards movement was expected for the week. A lower low and a lower high fits this expectation.
With New York Stock Exchange closed for Good Friday, there is no new data to analyse for Friday’s session. But the weekly technical analysis is updated in this analysis.
Strong signals from On Balance Volume support the Elliott wave count.
A very small range week moves price mostly sideways. The Elliott wave count remains the same.
Price moves lower as expected.
Today On Balance Volume gives a strong signal, which supports the Elliott wave count.
Price continues to move lower as all three Elliott wave counts expect. Targets remain the same.
More downwards movement was expected and this is exactly what is happening. The Elliott wave count and targets remain the same. All three Elliott wave counts expect more downwards movement at least for the short term.
This analysis overall expects a downwards trend, which is how the new trading week has begun.