A pullback was expected to end about 1,235. Downwards movement for Friday reached 1,232.98 and then quickly reversed.
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.
The short-term target for upwards movement for Friday was 1,250. Price moved higher to reach 1,249.66, just 0.34 short of the target.
Upwards movement has continued as expected. The Elliott wave targets remain the same.