Good evening all you fine people!

My thoughts this evening – the everything bubble continues………

https://qz.com/1891350/2020-could-be-the-best-year-for-ipos-since-the-dot-com-bubble/

Tonights update will be short and sweet, as I have been on the road for most of the day, we are just settling down this evening into the holiday cottage.

we are in the middle of nowhere as they say, but its quiet and comfortable, I have a bottle of wine with me so what more can you ask for!

On with the show.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Still tracking a possible impulse pattern off the high, 1.1694 is the key level to watch in the short term.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has just completed a series of 1,2 waves lower, or wave (ii) has traced out a running flat into tonights highs.

1.2981 is the level to watch for wave (iii) down to begin.

USDJPY.

USDJPY 1hr.

USDJPY 1hr.

USDJPY daily.

USDJPY may be creating a larger extension in wave (iii) than previously thought, watch for 106.45 to continue to hold as wave (iii) develops.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The endless stimulus plans have had an effect in general, but that effect is becoming marginal now, unless each new plan grows exponentially, then the stock market cannot continue to push higher at the rate it has been.

2019 was a negative 3% gdp year when you minus the deficit spending, 2020 is forecast to be a negative 7% year even with deficit spending at 3.7 trillion!

All in all, the economy is horrendous and the market is priced for PERFECTION!

The negative outlook remains, but in the short term I will just have to wait and see.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

We have three waves up into this evenings highs.

This can count as wave (iv) or [b].

So I am still looking for another drop into wave (v) or wave [c].

1861 marks the minimum target for wave (v).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The short term can still climb to a new high in wave [v], but the action has really lost momentum today.

A drop below 41.23 will signal a turn is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Another day without a new all time high, but we are just window dressing at this point!

This winning streak is ready to completely fall apart from every angle you look at it, except the price!

I am looking forward to the day when the FED posts serious losses on all those AAPL bonds the are buying, the proceeds of which are flowing straight into buybacks!

Wave [C] down is beckoning and it will be breath taking.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has traced out a three wave rally also at todays highs.

Wave ‘B’ of (B) traced out a triangle and then wave ‘C’ pushed up to the wave ‘A’ low before turning this evening.

I am still expecting a further decline in wave (C) to begin soon and take the price back into the 20 handle again before completing the larger correction.