Good evening, and Gods Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Easy come easy go in EURUSD today!

The pattern stopped short and did not create a final new high as I suspected last night.
Instead the decline accelerated today and so far the move looks impulsive to the downside.
I am looking for a five wave decline into wave (i) of [i] of ‘C’.
And a bearish lower high then in wave (ii).
That should lead us to a larger acceleration lower over the next few days in wave (iii).

Tomorrow;
Watch for wave (i) down to complete in five waves in the area of 1.1680 at wave [b].

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable finally gave up the ghost today and turned the corner into wave [c] down.
The move is developing impulsively in wave ‘i’ of (i) of [c],
and the previous fourth wave low at 1.2887 should be broken as wave ‘i’ completes.’

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to create the illusive bearish lower high before we accelerate lower into wave ‘iii’ of (i).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am viewing this rally today favorably as a possible wave ‘i’ of (i) scenario.
The internal structure of the rally is not perfect,
but I am willing to allow this time to develop properly in wave (i) blue.
If we hold a higher low tomorrow in wave ‘ii’ tomorrow,
that will be a good sign that wave (i) of [iii] is underway.

Tomorrow;
Watch for wave ‘ii’ pink to hold above 105.24,
and then rally again for the next few sessions to complete five waves up in wave (i).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It is a shame really,
but todays action seems to fit the alternate count.
The decline has been very corrective looking so far.
If the market turns higher tomorrow and breaks Mondays high again,
then I will switch to the alternate idea for wave [iii] of ‘5’ of (5) of [5].

I know thats a mouth-full!

My long term bearish outlook will not let me loosen my grip on the current bearish interpretation.
But I may be forced once again to submit and surrender!

I am watching with baited breath this week.

Tomorrow;
Watch for Mondays high to hold and a push below 28000 again to save the bearish outlook.

GOLD

GOLD 1hr.

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GOLD daily.

Gold has given up the fight it seems today!

We now have a completed three wave correction into the the high at wave (ii).
And now a sharp move lower into a possible wave ‘i’ of (iii) of [c].

Wave ‘i’ should trace out five waves down and ideally I want to see a break of the previous wave ‘b’ low at 1872.

Tomorrow;
Watch for wave ‘i’ to complete in five waves.
Wave ‘ii’ might even complete by tomorrow evening.
That will leave the door open for an acceleration lower into wave ‘iii’ of (iii) by the end of the week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil is definitely behaving like a top is in now.
The market ahs created a lower high today in wave (ii).
I am not sure if wave (ii) is complete yet as we may get a larger three wave pattern in wave (ii).
But either way that top must hold in wave [c],
and we should continue lower towards the end of the week.

The alternate count is less likely for sure,
but it will allow for another run to a new high in wave (v) of [c].

Tomorrow;
Watch for wave (ii) down to complete and wave (iii) to begin with a drop below 39.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The market is a little softer today but it is no where near enough to call a top in place at wave ‘2’.
I need a serious, sharp and impulsive move lower in wave [i] over the next few days,
and a break of 3340 to be more confident of the main wave count.

If the market rallies again tomorrow and takes out Mondays high,
that will trigger the alternate count and I will have to concede defeat.

Tomorrow;
Watch for wave [i] down to continue in five waves.
If we see a break of the internal wave (b) high at 3431 again that will favor the main bearish count.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Finally silver has made an impulsive move lower off the wave ‘4’ high.
I was beginning to get a little worried there!

It looks like we still need more downside to complete five waves down.
Todays spike lower looks like an acceleration into wave (iii) of [i].
This move is nearly done as I write.
Wave (iv) should follow tomorrow and hold below 24.76.

Tomorrow;
The price should correct sideways in wave (iv)
and then fall again over the coming days to complete five waves down in wave [i] green as shown.

Ideally wave [i] will break 22.83 to confirm that wave ‘5’ red is in force.