Good evening, and Gods Blessings to you all tonight.

Firstly – I want to apologize for the delay in getting back to you if you have emailed me, I hope to clear out the backlog by tomorrow evening!

I have been watching and waiting this week, for a major move in a few different markets to be unveiled.

Instead what has happened is a type of false peace in the markets.

Gold grinds higher and stocks react violently higher after two weeks of declines. But I get the feeling that this false peace will be broken soon enough.

I came across a few articles today alone that breaks the façade of this so called recovery!

https://www.zerohedge.com/markets/challenger-job-cuts-soared-september-spreading-sectors-outside-entertainment-and-retail

https://www.zerohedge.com/markets/us-personal-income-tumbles-august-savings-rate-plunges

https://www.zerohedge.com/personal-finance/over-830000-americans-filed-first-time-jobless-benefits-last-week

On with the show.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

There was a retest of the wave (a) high today at the 1.1750 handle.
The action up to that high seems quite choppy and corrective,
so I think todays new high is wave ‘b’ of a small expanded flat wave (b).
Once wave (b) closes out possibly by tomorrow evening,
this should lead to a rally into wave (c) early next week.

Tomorrow;
watch for a drop into 1.1684 at the wave ‘a’ low to complete wave (b).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The action in cable this week has only served to complicate the matter really!

I have switched to the alternate idea for wave [b] this evening.
The pattern into the session high at 1.2980 can be viewed as a five wave rally after that new high.
But the price did not make a new high above wave (a) at 1.3010.

This means wave [b] is now a running flat if the high of wave (a) holds.
All this to say that wave [c] down should now begin off this high.

Tomorrow;
Watch for wave (i) of [c] to fall back below 1.2674 over the next few days.
A break of 1.2776 will signal wave (i) has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is also stuck within a wave (b) correction today.
The rally in wave [i] is most definitely down now,
but now we need a three wave decline into wave [ii] over the coming days.

Wave (c) is now expected to fall in five waves over the next few days to complete a bullish higher low
and that should lead to a resumed rally in wave [iii].

Tomorrow;
Watch for wave (c) to fall below 105.39 at a minimum.
there is a shoulder of support at 105.22 also.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Much like Crude oil,
the short term action in the Dow is raising eyebrows now.
I have switched to the alternate count this evening which shows the action off the high as waves ‘1’ and ‘2’ in blue.
Wave ‘1’ down is a leading diagonal,
and now wave ‘2’ could be completing a flat correction near these highs.

If this interpretation is correct,
then we simply must see a rapid decline over the coming days to begin wave ‘3’ blue.

Tomorrow;
This week has dealt a serious blow to the short term bearish count.
So I will have to remain open to a further high developing.

If the price falls below the wave [b] low at 27170 again that will favor the bearish count.
And that will re-establish the longer term outlook for a major selloff coming our way soon.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has climbed to a slight new high today in wave ‘c’ of (ii).
But I think this action is a little terminal at the moment with a very choppy climb into the high today.

The price has just tagged the 50% retracement level at the high,
and we are right in the zone of that previous fourth wave also.

At the moment,
it seems like this second wave correction has run its course.

Tomorrow;
watch for wave (iii) down to begin with a break of the wave ‘a’ high at 1877.50.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The action in crude is just as confusing lately!

The price took a nose dive today and broke back below the 38 handle which is a nice start to wave ‘iii’ down.
But this evening we have a reasonable rebound underway,
and that began off the lower trend channel line.
So that does raise some questions about the short term structure.

The main alternate now is for this whole structure to be moving at one higher degree which is shown circled in red.
I will be watching that one over the coming days to see if this becomes more suitable.

Tomorrow;
Watch for wave ‘iii’ of (iii) to continue lower and break into the 36.00 area.
Any break above 40.00 again will favor the alternate count.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P count has also been moved up by one degree today.
The Idea for wave ‘2’ is a little different here though.

The rally up into the highs is labelled wave [a] of ‘2’,
wave [b] should now drop off that high in three waves over the coming days.
And then wave ‘2’ will complete with a rally again towards 3440 in wave [c].

It is interesting that the retracement so far has hit the 50% level.
And now we see a clear stall in upside momentum coming into this high.
this action alone signals a turn is developing.

The big question is this;
Will wave ‘3’ down begin off this level,
or do we have to endure another test of the highs in wave [c] of ‘2’ over the next month.

Tomorrow;
Watch for wave [b] down to begin with a drop into the 3300 level at the previous wave (iv).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

We have a small lower high now in place at this evenings high.
This is labelled wave [ii] of ‘5’ now in place,
with wave [iii] set to drop back towards 22.00 in the next few sessions.

Wave ‘5’ red calls for a five wave decline into the lower trend channel line below 21.60 at the wave ‘3’ low.
So there is work to do here yet!

Tomorrow;
Watch for todays wave [ii] high to hold at 24.16.
Wave [iii] will be confirmed with a break of 23.10.