A pullback was expected to end about 1,235. Downwards movement for Friday reached 1,232.98 and then quickly reversed.
A correction for a second wave on the Elliott wave count was expected to have begun. So far this is starting out with some sideways movement, which still fits the overall expectation.
More sideways movement was expected for the very short term. This pattern may now be identified on the daily chart. The measured rule is used to calculate a target.
Sideways movement in a small range fits the short-term expectation from the Elliott wave count. Volume today supports the preferred Elliott wave count.
For the short term, a small pullback was expected to continue. This is exactly what is happening.
For the short term, a small pullback was expected to begin the new trading week. A red daily candlestick represents overall downwards movement for Monday’s session.
Price remains range bound.
A new Elliott wave count this week has a good fit.