Last week I wrote: "As expected last week, price went a fraction lower on Monday, touching the 100-day simple moving average dynamic support. Tuesday the up retrace started with a price gap and went up to a 50% pullback, a price resistance and the PP pivot level of the month. Most probably the index made the top of the correction and resumes the down move. The next down target is the S2 pivot support at around 2380. I assume this will take a couple of weeks. Read my comments on the weekly chart and monthly chart for more information regarding the longer term view."
Predicting the coming week with the daily chart looks a bit contradictory compared to the weekly chart. Here there is room for a limited further up move. On the other hand there is a nearby gap to fill around 2460. Before that happens there may be another higher high. It may take more than a week before we see another start of a down correction. Read my comments on the weekly chart and monthly chart for more information regarding the longer term view. Yours for free: Elliott Wave International, a pioneer in technical market forecasting since 1979, has just released a free report from its team of market veterans, "5 Markets Ready to Move Before Year-End."
Sylvain Vervoort https://stocata.org/