A small consolidation or pullback was expected to begin within this upwards movement. Today that may have arrived, as the short-term expectation for yesterday’s hourly chart anticipated.
An upwards breakout fits the alternate Elliott wave count.
A strong upwards day with support from volume sees price break out of the channel on the daily chart. This necessitates a change in the Elliott wave count.
Downwards movement was expected for Thursday’s session. An inside day sees price remain above identified support and below the Elliott wave invalidation point.
With New York Stock Exchange closed for Good Friday, there is no new data to analyse for Friday’s session. But the weekly technical analysis is updated in this analysis.
Strong signals from On Balance Volume support the Elliott wave count.
Price continues to move lower as all three Elliott wave counts expect. Targets remain the same.
Downwards movement has unfolded as expected. A clear breach of the channel on the daily chart now adds strong confidence to the preferred Elliott wave count and the next Elliott wave target.
For the short term, a little more upwards movement was expected to unfold as a zigzag. Price remains within the channel on the daily chart.
A small range day fits the overall expectation for the Elliott wave count.
Downwards movement continues as all three Elliott wave counts expected.
A small range inside day leaves all Elliott wave counts unchanged today.