Good evening to you.

I read these charts earlier today and all I can say is OH BOY!

History is being made for sure!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has failed to break the previous fourth wave low at 1.1694.
This fact does raise some concern.
But for the moment,
I am working on the pattern alone.
And that pattern is a bearish impulse wave labelled as waves [i] and [ii].
Wave [ii] is an upward expanded flat which should now be complete.

Tomorrow;
WAve [iii] down must begin soon.
A break of 1.1694 will signal wave [iii] is underway.
Wave [iii] should fall into the 1.15 handle to complete.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is still leaning towards the bearish count but only just by a whisper!

The price fell today to begin a third wave down.
I have shown a developing wave ‘i’ and ‘ii’ as the initial moves lower into wave (iii).
If the price falls below 1.29 again that should be enough to confirm wave (iii) has begun.

Tomorrow;
Wave (ii) must hold at 1.3132 for this short term count to remain valid.
Watch for wave ‘ii’ to complete three waves up and then fall into wave ‘iii’ of (iii).

USDJPY.

USDJPY 1hr.

USDJPY 1hr.

USDJPY daily.

USDJPY is holding within the bullish pattern so far today.
I would like to see wave ‘iii’ of (iii) push higher towards 107 again before turning into a wave ‘iv’ correction.
The price should rally towards the upper trend line before completing the larger wave (iii).

Tomorrow;
Watch for wave [i] to hold at 106.45.
that level should act as support in the bullish scenario.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Its a quiet day in the stock market.
The price dropped below the upper trend channel line yesterday.
And so far we are holding below it.
The price has also completed three waves up into todays highs,
this is another signal of a weakening price structure.
I have spoken ad-infinitem of the terrible breadth and lack of leadership within this whole rally in wave (B).
In a bull market,
A rally is usually built on a dissension and nay-saying.
this rally has been riding a wave of cheer-leading and confirmation bias.

But no tree grows to the sun as they say!

Tomorrow;
It is very much a waiting game as the stock market continues to complete upward corrective patterns.
An impulsive decline before the end of the week would be a good sign in favor of the downside.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold had a nice rebound off the low in wave (iii) created overnight.
The wave (iii) low came in at 1861 and the rally up into wave (iv) has topped out at 1949.
It is very possible that wave (iv) will create a larger there wave structure over the next few sessions,
but this should lead to a decline into wave (v) again.

The alternate view would call for a three wave decline into wave [a],
and then a correction higher in wave [b].
So in both scenarios we should see a correction at this same level.

Tomorrow;
watch for a possible drop into wave (v) followed bay a correction in wave [b] to begin next week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is hell bent on reaching to a new high in wave [v].
The internal pattern is still very much in the form of an ending diagonal wave ‘C’ in blue.
As the market continues to create overlap after overlap within the structure.
It is possible that wave [v] is already complete at the recent high,
and if the price falls below 41.23 again,
that will be enough to signal wave [i] down is in force.

Tomorrow;
watch for wave [v] to complete in three waves about 43.50.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

It is a given now that I will be switching to that alternate count for wave [B] this week.
That all time high is too good to miss out on now,
even if it is the straw that will break the camels back.

The alternate count does not alter the structure of the rally off the March lows.
It simply moves up the wave count by one degree.
And the next leg down moves up by one degree also.

It is interesting that we are rallying into a late summer high again.
It is like history wants to rhyme with itself all the way to the graveyard!

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The rally in Silver today is labelled as wave ‘A’ of (B) which is now completing.
Over the next day or two,
wave ‘B’ should drop into a higher low above 23.36 at the wave (A) high.
Then wave ‘C’ is set to rise back above 26.20 again to complete a three wave correction in wave (B) as shown.
This pattern is early in its development,
so I am just going to have to let it play out as it will over the coming days until we get a sign that wave (B) is done.

Tomorrow;
watch for wave ‘B’ to fall in three waves and complete above 23.36.