A pullback was expected to end about 1,235. Downwards movement for Friday reached 1,232.98 and then quickly reversed.
A small range week leaves all Elliott wave counts valid. The target on the preferred Elliott wave count remains the same.
Downwards movement was expected to begin the new trading week. An inside day closes red, which mostly fits expectations.
With markets in the US closed for Thanksgiving Day, a very quiet 24 hours sees a very small doji candlestick leave the analysis the same.
A little more downwards movement has unfolded as expected.
A small inside day leaves all Elliott wave counts unchanged.
Downwards movement was not expected for Wednesday, but price remains above the invalidation point and the preferred Elliott wave count remains valid.
Sideways movement was expected for Tuesday’s session. A small inside day completes as a doji candlestick, which exactly fits expectations.
Another small range day remains within the consolidation zone. On Balance Volume remains range bound and may give a signal within a very few days.
Volume analysis still favours the first Elliott wave count.
On Balance Volume is watched carefully this week. It may signal which Elliott wave count is most likely.