---

Hi there everyone.

---

EURUSD.

---

EURUSD 1hr.

---

There is a good chance that wave ‘a’ up is now complete off the 1.0776 low.
Wave ‘a’ has a three wave pattern in place,
with a possible ending diagonal into todays high to complete the pattern.
Wave ‘b’ is now underway and should create a three wave pattern,
before wave ‘c’ rallies again by Friday.
As it stands,
Wave (ii) does not look like it will reach 1.1095 but we will have to wait and see.

Tomorrow;
Watch for wave ‘b’ to complete above 1.0776 in three waves.

---

GBPUSD

---

GBPUSD 1hr.

---

Cable is back to its old tricks again with another ranging trade today.
The call for a rally in wave ‘c’ to compelte wave (ii) is getting less likely now.
Although,
the current sideways price action looks very incomplete.
It seems we need another rally to complete a three wave structure.
So,
until another more likely pattern emerges,
I will continue to work with this idea.

Tomorrow;
watch for 1.2886 to hold and for wave ‘c’ to rally in a third wave.

---

USDJPY.

---

USDJPY 1hr.

---

We have a conundrum developing in USDJPY now.
The price is up off a low in wave [ii] today,
but so far that rise is in three waves.
This could be a small 1,2 pattern still developing as shown.
But wave ‘iii’ needs to come in tomorrow and carry the price higher.
That action would really simplify the pattern from here.

Tomorrow;
watch for wave (i) to hold above 109.88.
wave (i) should continue higher for the rest of the week.

---

DOW JONES.

---

DOW 1hr.

---

The DOW shot higher this morning in a possible wave ‘a’ of (iv).
But those gains were almost all lost in the afternoon trade.
This has left us with a small higher low in a possible wave ‘b’ now.
And wave ‘c’ is left to close out a three wave pattern in wave (iv).

The alternate count shows wave [i] green already complete at the recent low.
I am allowing for the fact that wave (iv) and (v) may have been swallowed up in the frantic action this week.

So it is possible that this rally off the low is now wave [ii].
And in that case,
we are staring down larger decline in wave [iii] coming our way.
And that one will be exciting.

Tomorrow;
No matter which count you prefer,
we should still see another rise in either wave ‘c’ of (iv),
or wave (c) of [ii] over the coming days.

Watch for wave ‘c’ to rally back above 27542 at the wave ‘a’ high to complete wave (iv).

---

GOLD

---

GOLD 1hr.

---

Gold is holding up off the session lows pretty well this evening.
It is possible that wave ‘iv’ is now complete at that low of 1624.60.
But it is now critical that we start to make an impulsive move higher before the end of the week,
to get the bullish pattern back on track.
Wave ‘v’ of (v) will be confirmed with a break of 1689 again.

I am contemplating a possible alternate count after that recent decline.
In that case,
the recent rally is only wave (iii) of [v].
And we will have to push higher again in waves (iv) and (v) to close out that pattern.

Tomorrow;
Watch for wave ‘v’ of (v) to begin off the 1624 low.
If that level holds tomorrow,
it will greatly increase the odds that wave ‘v’ is already underway.

---

CRUDE OIL.

---

CRUDE OIL 1hr.

---

No luck for wave (ii) yet!
The relentless declines need a counter measure to balance out the bearishness now.
So I still expect wave (ii) to begin this week.
And the target should remain at about 52.00 for wave (ii) to complete.

I have not ruled out the alternate count either.
This count should allow for more downside also after wave (ii) completes.

Tomorrow;
watch for wave (i) to find a low soon and wave ‘a’ of (ii) to push back above 50.44.

---

S&P 500.

---

S&P 500 1hr

---

I have moved up the wave count in the S&P by one degree today.
I think the severity off the decline deserves a higher degree count.

This new does not take away from the fact that we need a relief rally to begin pretty soon in wave [ii].
It is possible that the spike higher today is the beginning of wave [ii].
In that case wave [ii] will be an expanded flat correction.
And wave (c) of [ii] should rally back above 3182 to complete a three wave correction by the end of the week.
The upper end of the target for wave [ii] lies at the previous fourth wave at 3260.

If this new count is correct,
then we are still looking at the beginning of another long decline in wave [iii] next week.

Tomorrow;
Watch for wave (c) to begin and push back above 3182.

---

SILVER.

---

SILVER 1hr

---

The decline in silver this week is leaning towards the alternate count and I cannot deny that.
But something about that decline makes me think that it was yet another test of the strength of the rally.
And in that case,
the decline this week is a second wave correction.
With wave ‘iii’ of (iii) set to carry us higher over the coming week.

Tomorrow;
The low at 17.45 must hold for this bullish count to remain valid.
If that low breaks,
then I will have to wait for the larger wave [ii] idea to play out,
before a rally in wave [iii] begins.

Watch for wave ‘iii’ to begin to create higher lows again.

---

U.S 10YR.

---

US 10YR 1hr.

---

I am back to the hourly charts again tonight!

The rally in wave [v] green is a pretty clear five wave pattern.
Th recent rally in wave (v) of [v] is a terminal move in that sense,
and it should be by a significant retracement.

I the bearish case,
the next move will be a decline back below 127.88 again to begin a new bearmarket in bonds.

Tomorrow;
135.47 must hold from here.
The price has met the upper trend channel line in wave (v).
So lets see if we can begin an impulsive move lower soon.

---