Good evening, and Gods Blessings to you all tonight.

I recorded a midweek video earlier so have a look.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Yesterdays sharp move lower was counteracted by a retracement to a further lower high today.
If wave ‘ii’ is now in place,
then tomorrow will bring wave ‘iii’ down and a break of 1.1698 at a minimum.
I want to see wave (i) of [c] push much lower over the next few days.
A break of the wave [a] low at 1.1611 will signal wave [c] has begun.

Tomorrow;
the wave [b] high at 1.18080 must hold.
Watch for wave ‘iii’ of (i) to continue lower.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Its a hard call right now in cable.
The decline off the high at wave [b] is not as clean as it is in EURUSD.
The only pattern that fits wave ‘i’ is a wedge or leading diagonal.
Wave ‘ii’ pink is now underway off that low.
and we should see wave ‘iii’ of (i) reverse lower again by tomorrow afternoon.

Tomorrow;
Watch for wave ‘iii’ of (i) drop again into the wave (b) low at 1.2674.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY rallied again out of that wave ‘iv’ corrective low and accelerated overnight in wave ‘v’.
The price may still be moving in wave ‘v’ as I write.
So there may be another pop higher to complete a larger wave (i) overnight again.

If the price drops below 105.80 again that will signal wave (ii) is underway.

Tomorrow;
Watch for wave (i) to complete and wave (ii) to begin a correction in three waves into about 105.50 for the rest of the week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow has fully retraced yesterdays sharp decline now.
I am always amazed by the ability of people to completely dismiss the world around them and buy stocks regardless.

It is all the more funny when you know that a share is a claim on the future cash flows of a given company.
And when those future cash flows are looking less likely by the day,
it does beg the question what people think they are doing here?

Tonight I have shown another possibility for the three wave structure of wave ‘2’.
Right now wave [c] is taking the form of an ending diagonal.
And wave [c] has reached equality with wave [a] at the session highs this evening.

We have a low at wave (iv) at 27650,
and if the market falls below that level again,
that will signal wave (i) has begun.

Tomorrow;
Watch for wave [c] to finally come to a end and reverse into wave [i] of ‘3’.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold began a corrective move higher in wave ‘ii’ pink today.
I expect we will see a clear three wave pattern develop in wave ‘ii’ by tomorrow afternoon.
This should be followed by an acceleration lower again into wave ‘iii’ of (iii),
which could begin before the end of the week.

Tomorrow;
Watch for wave ‘ii’ to complete three waves up below the trend channel line,
and then reverse lower again into wave ‘iii’.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

After a corrective decline in wave (iv) which has completed at todays lows at 39.44.
Crude is now heading higher again into wave (v) of [c] of ‘2’.
Wave [c] is only a few hours away from completing five waves up,
The target lies at 41.70 at the wave [a] high.
That final high should complete this very large second wave correction.
and then wave ‘3’ looms large below us.

Tomorrow;
Watch for wave (v) to rally and complete by the end of the session.
A drop back below 39.40 again will signal wave (i) is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

We do not have a new high in the S&P yet this evening,
but I’m sure now that is just a matter of formality.

The market has shrugged off each and every decline over the last week,
but in doing so we now have a very choppy structure in place
and wave [c] can only be described as a last gasp effort to top out in an ending diagonal.

Tomorrow;
Watch for wave (v) of [c] to hit that upper trend line and the reverse lower into 3300 again in wave (i) down.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is creating a clear lower high also this evening in wave [ii] of ‘5’.
If the pattern is now complete in wave [ii],
then wave [iii] down should follow by tomorrow evening.
A break of the wave [i] low at 22.83 will confirm wave [iii] is underway.
And wave [iii] should fall into the 22.00 handle.

Tomorrow;
Watch for wave [iii] down to begin with a break of 22.83.