Downwards movement continued a little further as the main Elliott wave count expected, but fell 8.69 short of the target.
A new low invalidates the main daily Elliott wave count and confirms the alternate. A new target is calculated.
Price remains above the invalidation point, finding support at the trend line on the main daily Elliott wave count.
Upwards movement was expected for the main daily Elliott wave count, which today has some support from volume analysis.
The main Elliott wave count expected upwards movement. A small upwards day fits this expectation.
Price remains above the invalidation point and within a small consolidation zone.
The main hourly Elliott wave count for Friday expected a new low at least slightly below 1,218.61 but not below 1,212.11. A new low to 1,217.68 fits this expectation very well.
The alternate daily Elliott wave count remains valid.
Downwards movement remains above the invalidation point on the hourly Elliott wave count.
Three short term Elliott wave counts are presented today.
A new high very slightly above 1,234.67 now adds confidence to the main Elliott wave count.
An alternate Elliott wave count is still considered.
Downwards movement remains above the invalidation point on the hourly chart and within the allowable range for the Elliott wave count.