Good evening, and Gods Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The price decline today is not enough to signal that wave ‘iii’ is in force yet.
I am looking at the idea that wave ‘ii’ is still underway,
A three wave correction higher should complete at the upper trend channel line.
That comes in at 1.1785,
and at that point wave ‘iii’ down should begin.

Tomorrow;
1.1808 must hold at the wave [b] high.
Wave ‘iii’ down will be confirmed with a break of 1.1698.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is still holding below the the wave [b] high at 1.3008 tonight,
but I will admit that the action off that high is less than convincing at this moment.
If wave (i) down is underway,
then if the price falls below 1.2843 again that will signal wave ‘iii’ is underway.
And wave ‘iii’ should fall into about the 1.27 handle.

Tomorrow;
Watch for wave ‘iii’ to fall below the 1.2843 to signal wave (i) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has consolidated throughout the day in a corrective pattern.
We have a triangle correction in place this evening,
and this is likely a triangle within wave ‘v’ of (i),
and that should lead to another pop to the upside to complete wave (i) by tomorrow evening.

Tomorrow;
Ideally I would like to see wave (i) push out above 106.55.
But a move about 106.10 again will be enough to satisfy the pattern.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Another day and another tag of that upper trend line within wave [c] of ‘2’.
The pattern off the high in the Dow is about as complex as it gets in terms of the sheer amount of variation.

As far a the correction in wave ‘2’ goes,
I think we have reached the limit of what could be allowed now.
Any further rally will probably rule out this bearish pattern.
So this is the moment of truth for the stock market.

Tomorrow;
I want to see the back of weave ‘2’ now and the beginning of an impulsive move lower in wave ‘3’ over the coming week.
A decline below 28000 again will break the lower trend line of wave [c].
That will be the first signal of a shift in the trend.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has traced out a three wave pattern higher to complete wave ‘ii’ of (iii) at todays highs.
the price has remained below the declining trend line again,
which seems to be acting as a form of resistance now.

If this short term pattern is correct,
then we are on the verge of another sharp drop in the gold price in wave (iii) down.
And a break of 1872 again will signal wave ‘iii’ of (iii) is underway.

Tomorrow;
1920 must hold.
Watch for wave ‘iii’ of (iii) down continue and break below 1872 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is following along well within the short term pattern these days.
Wave [c] is now on the verge of breaking to a new high above wave [a].
and with that we will have a three wave correction in place at a bearish lower high in wave ‘2’.

Todays rally came in wave (v) of [c] of ‘2’,
and wave (v) is not quite done yet.

Tomorrow;
Watch for wave (v) to complete a five wave pattern itself and break above 41.70 to complete the correction in wave ‘2’.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays highs have brought us to a cluster of resistance levels in the previous structure.
The double top in wave [ii] is right at this price point and a previous fourth wave also.
The price has hit the 62% retracement level of wave ‘1’,
and we have a 3,3,5 pattern complete within wave ‘2’.

This picture could not be more complete than it is right now.
Here is my point,
if I am correct,
then we are on the verge of a massive reversal into wave ‘3’ down which could fall for a few weeks.
And that wave could easily carry us back below 2700 before finding support.
So the stakes are high here!

Tomorrow;
Watch for wave ‘2’ to complete and then weakness to develop off the high into wave (i) of [i] of ‘3’.
3300 is the key level in the short term.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The action in silver is getting weak here despite a slight new high today to finish wave [ii].
The price has given up the gains into the close this evening,
and now I want to see an impulsive move lower begin in wave [iii] down.

I cannot confirm wave [iii] is underway until we see a break of 22.83,
but if we see a small lower high play out tomorrow,
that will signal a beginning to wave [iii].

Tomorrow;
Watch for wave [iii] down to take hold and 24.40 to hold at wave [ii].