A small bounce was expected for Friday. A small green daily candlestick moves price slightly higher, fitting expectations.
For the short term, today’s candlestick and Stochastics indicate what may happen next and the Elliott wave count provides Fibonacci ratios for targets.
Price is right at a trend line on the prior main Elliott wave count.
Movement over the next very few days may provide some illumination as to which Elliott wave count is more likely.
Another new low was expected. This is so far what is happening.
The bigger picture is updated today with a new weekly wave count.
A small inside day sees the Elliott wave count remain the same.
Downwards movement fits the alternate Elliott wave count, which was expected to have a lower probability.
Low probability does not mean no probability; when low probability outcomes do occur, they will never be expected as what was most likely. That is the nature of probability.
Upwards movement today has support from volume. This fits the main Elliott wave count.
An outside day closes green, and the balance of volume is upwards. This fits expectations for the main Elliott wave count.
With a sideways range day, the Elliott Wave counts remain the same.