Good evening, and Gods Blessings to you all tonight.

You will no doubt know that I did not do a video this weekend, forgive me!

I will be doing a video tomorrow and later in the week to catch up on things.

I am working on putting together a page with the very long term charts, weekly and monthly for each market.

so that should be up by the end of the week.

Ok down to business.

Interest rate VOL:

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The triangle idea for wave (b) was validated today with a sharp rally.
The price has rallied up to the 1.1800 level at the highs of the session,
This action should bring wave [b] near to a close now.
We have a three wave retracement in place,
and we are right at the 50% retracement level of wave [a].

This action should lead to a reversal pretty soon into wave [c].

Tomorrow;
Watch for wave (c) of [b] to find a top near that 1.1800 target area.

Wave [c] down will be confirmed with a drop back below the 1.1700 level at wave (b).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Todays action has not offered us any clarity on the short term pattern really!
The running flat idea for wave [b] did not play out today as wave (c) pipped above the previous high.
At the moment wave (c) is likely to make a new high above wave (c).
And the internal pattern for wave ‘v’ of (c) is developing into an ending diagonal.
The minimum target for wave (c) is at 1.3008.
And the 50% retracement level of wave [a] lies at 1.3080.

Tomorrow;
Watch for wave (c) to complete at about 1.3080 and then reverse lower into wave [c] by Wednesday.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The spike higher out of the wave [ii] low was so sharp that I need to zoom in a little to show the internal pattern.
You can see that this rally is developing impulsively for sure now.
I can see a five wave pattern higher in wave (i) of [iii].
And wave (i) is close to breaking the wave [i] high at 105.80.
If that level breaks and we see a corrective higher low build in wave (ii),
then we should prepare for a sustained rally into wave (iii) of [iii] over the coming days.

Tomorrow;
Watch for wave (i) to complete with a break of 105.80.
Wave (ii) should correct in three waves and create a higher low above 104.94.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Wave [c] continued higher today and is close to completing five waves up now.
Today rally is viewed as wave (v) of [c],
there is likely a little more to go to the upside to complete the internal pattern here also.

Wave [c] has hit the minimum target by breaking above the wave [a] high,
but I want to see a break of the wave (b) expanded flat high also,
before I look for wave [i] to begin to the downside later this week.

Tomorrow;
Wave [c] of ‘2’ will hit the 62% retracement level of wave ‘1’ at 28170.

Watch for wave [c] to complete near that target and for wave [i] to begin with a drop in five waves.
Wave [i] will be confirmed with a break of 27250 again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold rallied in a steady move today without any major spike in price.
The action is a little strange, almost robotic really!
So I am not taking the over on this one just yet!

I think we can still look at this whole rally off the wave (i) low as wave (ii) still developing.
The price is sitting between the 50 and 62% retracement levels on declining momentum and a pretty choppy pattern.
I am looking for wave (ii) to draw to a close very soon and wave (iii) down begin with a more impulsive move lower in the coming days.

Tomorrow;
watch for wave ‘c’ to complete at or near 1925 at the 62% retracement level.
A drop below 1886 again at wave ‘b’ will be a real danger sign for gold.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Todays action has triggered the alternate count for wave ‘2’ blue.
The overall action in wave ‘2’ is very messy indeed,
but I think we are probably working with a flat correction with a 3,3,5 internal pattern.
This is a complex pattern though,
and nothing is working out according to the ‘book’ as they say.

Even so,
I am expecting to see a rally in wave [c] of ‘2’ to push higher throughout this week.
Ideally this will trace out a five wave pattern and complete with a break of the 41.70 high.

Tomorrow;
watch for wave [c] to complete wave (iii) and correct in wave (iv) of [c] by tomorrow evening.
This week should be enough time to close out this larger wave ‘2’ correction.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I have also moved to the alternate count in wave ‘2’ blue for the S&P tonight.
Todays trade broke to a slight new high above last weeks top tick,
and now It looks like wave [a] of ‘2’ is now complete as a five wave rally.

This count suggests we will see a long drawn out sideways grind over the next two or three weeks
to complete a corrective lower high in wave ‘2’ as shown.

If wave [a] is drawing to a close now,
then wave [b] is set to decline in three waves towards 3200 for the rest of this week.
And then a rally again next week in wave [c] of ‘2’.

Tomorrow;
Watch for wave [a] to top out soon.
A drop back into 3300 is expected in wave (a) of [b] and this should begin by the end of tomorrows session.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am taking a similar cautious stance in silver as with gold.
The overall pattern on the 4hr chart calls for a drop back into the low 20.00 area
to complete a five wave decline in wave (C) of [2].
And I am going to allow for that to develop this week.

The alternate count is more bullish now which calls this recent rally wave ‘1’ of a larger acceleration.
But I am just not convinced of that idea yet.

Even if the alternate count is correct,
we will still need to see a three wave decline to a bullish higher low over the next week.
So all sings point down in the short term.

Tomorrow;
Watch for wave ‘5’ of (C) to begin with a break of the 23.00 handle to confirm.