Good evening, and Gods Blessings to you all tonight.

Here we go.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Todays further slide has rules out the second wave correction in wave (ii) as shown last night.
It is now more likely that the decline off the high at wave ‘B’ is moving at one degree higher in wave [i] green as shown.
this short term count suggests a little more downside to complete wave [i].
A break of the wave [b] low at 1.1684 will the the minimum expected target,

Tomorrow;
Watch for wave (v) of [i] to complete a five wave structure and complete in the area of 1.1650 before any correction higher in wave [ii] begins.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The short term action in cable is a little more uncertain today.
The price fell off last nights high,
but the price has not accelerated into wave ‘iii’ as you would expect.

I have moved up the wave count by one degree today to allow for a larger extension lower into wave (iii).
and that will allow more time for this pattern to develop.

Tomorrow;
Watch for wave ‘i’ to break below 1.2862 and then correct in wave ‘ii’ pink.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is moving higher again today despite calling my bluff yesterday.
the action is looking a little more promising in terms of an impulsive five waves higher in wave (i).
So far we only have a three wave move higher off the wave [ii] low,
I expect this rally to continue in five waves and push back up to challenge the 106.00 level again.

Tomorrow;
Watch for wave (i) of [iii] to continue higher in five waves.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The early action was promising this morning but then we get another dip buying frenzy to finish off the day.
I would like to see a clear five wave move lower off that wave ‘2’ high to rule out that bullish alternate count.
But I can still only see three waves down.
There is a chance that tonights high is wave ‘iv’ or the beginning of wave ‘iv’,
but this requires another drop again tomorrow to a fresh low below 28000
to complete the pattern in wave ‘v’ of (i).

As long as we hold a lower high tomorrow,
then the bearish outcome is still on the table!

Tomorrow;
Watch for another lower high to form in wave ‘iv’ pink and then wave ‘v’ to drop into 28000 to complete five waves down.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave ‘ii’ pink is still in control of the action today.
The price is tracing out a larger flat pattern in wave ‘ii’ now as shown.

This pattern will allow for a run into the upper trend line at about 1920 again to complete three waves up.
Then wave ‘iii’ of (iii) will be primed and ready to accelerate lower again over the coming few sessions.

Tomorrow;
Watch for wave ‘ii’ to complete at 1920.
A drop below 1882 again will signal wave ‘iii’ has begun.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Well well,
the action in crude this week has been bizarre to say the least!
We now have two failures below 41.70 at the wave [a] high.
Each high was followed by a sharp move lower in a pretty impulsive fashion.
This behavior is not looking very encouraging to say the least.
And if todays rally fails again,
then the probability of an acceleration lower in wave ‘3’ will be very high.

Tomorrow;
Watch for todays rally to fail as either wave (ii) of [i],
or complete the top in wave [c] with a break of 41.70,
and then accelerate lower in wave [i] again next week.

Either way I look at this,
I do not see a bullish outcome here.
Wave ‘3’ down is calling.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

We have bearish possibilities building the stock market this week,
but we are still fumbling through without any confirming price action.

The rally this evening could be wave (ii) of [i] as shown.
This calls for a further decline pretty soon into wave (iii) of [i].

At the very least I need to see a break of 3430 again at the wave (b) high.
This will put a dent on the alternate count.
And if we see a drop below 3340 again,
that should be enough to rule out the alternate count.

Tomorrow;
Watch for wave (ii) to complete a bearish lower high below the wave ‘2’ high at 3548.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has traced out a five wave decline into wave [i] down at todays lows.
The price has rebounded sharply this afternoon,
and I have labelled this as the beginning of wave [ii].
Wave [ii] should correction higher in three waves and complete near the wave (iv) high at 24.60 by Monday evening at the latest.
A drop back below 23.55 again will signal wave [iii] is underway.

Tomorrow;
Watch for wave (a) and (b) to complete with a higher low above 23.55.