Good evening to one and all!

May The Lord God Bless you all tonight.

Here it goes.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD triggered the alternate count for wave ‘B’ today by continuing higher in five waves.
The price has continued higher in wave (v) of [c]
and this completes a three wave pattern in wave ‘B’.

At this point there is only one outcome for this pattern.
Wave ‘C’ down must begin soon and carry the price back towards the 1.1000 area to complete wave (D) of the triangle.

Tomorrow;
Watch for wave [c] to complete at the upper trend line at 1.1870.
A drop below 1.1760 again will signal wave [i] of ‘C’ is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

No matter how much I will cable to fall,
the price continues to levitate above 1.2850 for another session.
If this action does not break to the downside pretty soon,
then I will have to consider and alternate count for wave [b] in green.

Todays action has not invalidated the main wave count yet either,
so I am sticking to my guns here.

Tomorrow;
Watch for wave ‘iii’ of (iii) to push lower and break 1.2857 at the wave ‘i’ low and then accelerate towards the support at 1.2670 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Its a day for the alternate in the USDX markets today.

The early trade today was promising with a spike higher,
but the price has faltered this evening and now that drop back below 105.50 again favors the alternate wave [ii] idea.

Last nights count now becomes the alternate,
but the probability for that bullish count is now diminishing fast!

Tomorrow;
We will have to wait again to see an more significant rally in the USD.
Wave (c) down is now in charge and that wave should break 105.00 again before coming to a halt later this week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The most bearish interpretation of todays action is shown this evening.
which involves a series of 1,2 waves off the recent high at wave ‘2’.

This wave count suggests a sharp selloff tomorrow into wave ‘iii’ of (iii).
And that wave is expected to carry below the previous wave (iv) at 27650 again.

The strange this about this weeks action is this,
we continue to see support breaks at that 28357 level at the alternate wave (i) high.
Alternate wave (iv) of [iii] simply must not break that support.
So the main alternate count is compromised now.
and that adds a degree of suspicion to this action.

Tomorrow;
Watch for wave ‘iii’ of (iii) to com in strong tomorrow and decide the pattern by breaking back below the 28000 level in an impulsive fashion.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

There is not a whole lot to report on gold today as the main count calling for wave ‘iii’ down is still in force.
The price has again created a lower high below the wave ‘ii’ high at 1918,
and if we see a further drop tomorrow to break 1894,
that will signal wave ‘iii’ is underway.
A break of the wave ‘i’ ow at 1882 again will confirm wave ‘iii’.

Tomorrow;
Watch for wave ‘iii’ down to continue lower and break out of this corrective pause in wave ‘ii’.
1882 is the key level in the short term count.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The price action seems to have finally cleared up this evening with a spike to a new high above 41.70.
This comes after a long drawn out fourth wave triangle which ended early this morning.

Todays new high has broken the wave [a] high,
and immediately we have seen a drop back off the high as we hit the close.
So there is a reasonable chance that wave (v) is complete now at todays high.

The wave (iv) low lies at 40.45,
if the price accelerates lower and breaks that level tomorrow,
I will be happy to call a top in place for wave (v) of [c] of ‘2’ then.

Tomorrow;
Wave ‘2’ should top out and reverse into wave (i) of [i] of ‘3’ by the end of this week.
Watch for a drop below 40.45 to signal that wave [i] of ‘3’ has begun.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The drop off the wave ‘2’ high has traced out three waves down so far,
but I am allowing for this decline to develop into something bigger.

No change there says you!

The action today is to the upside but,
it is very corrective looking at the moment with a series of overlaps,
and this evening the price is sliding again.

There are complications with the alternate count also
involving the internal pattern within alternate wave [iii] green.
So the bullish alternate is not a clear cut winner either!

Tomorrow;
Watch for tonights decline to continue early tomorrow and break below the wave ‘i’ low at 3420.
This decline must accelerate into wave ‘iii’ of (iii) over the coming days.
I would like to see a break of 3340 in wave ‘iii’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

It was a close call this evening but silver has turned down again off a very slight lower high in wave (ii).
This decline must now continue and break the wave (i) low at 24.20 again,
in order to confirm wave (iii) of [iii] is underway.

If this count is correct,
then we should see a clear acceleration lower tomorrow.
And the wave [i] low at 23.55 should break soon.

Tomorrow;
Watch for wave (ii) to hold below 24.96 and wave (iii) down to continue lower.