Good evening folks.

I am sure some of you read these articles today but I can’t help but link to them.

As for the election, this piece is simply amazing!

https://www.zerohedge.com/political/it-defies-logic-scientist-finds-telltale-signs-election-fraud-after-analyzing-mail-ballot

And as for the ‘spy-gate’ Russia collusion hoax, this move is really going to pull the rug out from under a whole lotta folks!

https://www.zerohedge.com/political/donald-trump-jr-declassify-everything

So happy reading, and here we go!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

It is still a state of flux between the tight waves (D) and (E) as the main count for wave [B],
and the alternate flat wave ‘B’ of (D) and now a decline into wave ‘C’ of (D).

A three wave decline is expected from todays high at a minimum,
in wave ‘B’ blue,
and then wave ‘C’ of (E) will rally to a final high below 1.20 by Wednesday.

If the price breaks the low at 1.1600,
that will trigger the alternate count for wave (D).

It is a little confusing to follow now I know!
In the big picture,
we are very near the end of this wave [B] correction and the next major move will be wave [C] down.

Tomorrow;
Watch for wave ‘B’ to continue lower in three waves and create a higher low above 1.1600.
a 50% retracement will bring us down to 1.1760.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The end of this wave [b] correction is proving very difficult to nail down to be sure.
The price has stagnated in a pretty tight range today and this has not cleared up the pattern at all today.
I am toying with the idea that we have a triple combination pattern in wave [b].
This would definitely fit the bizarre patterns that have developed over the last few weeks.
If this is correct,
then wave (c) of [b] will complete a three wave correction higher very soon as shown by the red trend channel.
A five wave move down below 1.2900 again will signal wave [c] has begun.

Tomorrow;
Watch for wave [b] to complete below the upper trend channel line and then drop impulsively off that high to begin wave (i) of [c].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Well well well!
after weeks of waiting and a few disappointing false starts,
I think todays action is a move in the right direction for USDJPY.

The price has shot higher today and broke back above that 105.34 level at wave (b) blue.
This action is enough to stop any larger bearish patterns that may have been lurking in the background.
At least for now!

Tomorrow;
The vertical move today is labelled wave (i) of [i] and I think we can agree that it is pretty impulsive looking.
Although it is hard to know where wave (i) will top out,
it should lead to a corrective higher low over the next few sessions in wave (ii).
At that point we can make some judgements on where this move may go next.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Today marks the death of my bear market thesis, at least for now.

I have been taken for a ride by the latest down moves over the last few months,
but todays action has retraced above the recent tops again and now I have switched to the alternate count in wave ‘5’ of (5) again.

The recent declines only managed a three wave pattern lower and that now takes the wave ‘4’ of (5) label.

In general this count means,
all the declines and rallies over the last few years beginning in 2018,
have been building a series of successive 4th and 5th waves to create this megaphone toping pattern that you can see on the daily chart.

If we stick to the daily chart;
The rally over the last week has now brought us to within a 1000 points of the upper trend line of that megaphone.
Wave ‘5’ of (5) is projected to top out around that trend line.
And that will be in the area of 31000.

The 4hr chart shows the development of that five wave pattern in wave (5),
with an extension in wave ‘3’.

And the hourly chart shows the latest rally in terms of a developing wave ‘5’.
Todays rapid acceleration higher is labelled wave ‘iii’ of (iii) of [iii] of ‘5’.
And once wave (iii) completes in a day or so,
then we will see a series of 4th and 5th waves again at to draw us up to the top in wave ‘5’.

Tomorrow;
Watch for wave ‘iii’ and ‘iv’ of (iii) to create a sideways move tomorrow.
Wave ‘iv’ must hold above 28500.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold took an absolute beating today after completing three waves up in wave ‘B’ last week.
The price has not quite taken on the wave ‘A’ low today,
but a break of that level at 1848 should follow soon enough as wave ‘C’ develops.
I am still working with the base case that wave ‘C’ of (4) will target the mid to low 1700’s area.
And wave ‘C’ should trace out five waves down.

Tomorrow;
Wave [i] of ‘C’ is all but complete after todays decline.
I suspect we will see wave [ii] begin tomorrow
and that will likely bring us back above the 1900 level again in three waves this week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The bearish count in crude oil is holding on for dear life this evening.
The pattern I am working with now involves a large wave ‘2’ expanded flat correction.
Wave [c] of ‘2’ should punch above 41.90 and hold below 41.80,
to complete a triple combination wave.
The margins are tight for this count
but a third wave decline could yield some major points off a possible wave ‘2’ top.
and the stop loss levels could be held to a minimum.
And for that reason alone I think it is worth seeing this count through.

Tomorrow;
Watch for wave (c) of [c] of ‘2’ to close out a three wave rally into that band of resistance above 41.80.
Any sharp move back below 39.50 again will be viewed as the beginning of wave ‘3’ down.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I know that this eventuality was lurking in that back of my mind for the last few weeks,
but I could not deny the chance for the bear market to get going.
And so I stuck to my guns again to no avail.
I might be the type of character to dye fighting,
rather than to retreat and fight another day.

I hope I never have to find that out in real life, but who knows!

The pattern in the S&P is now identical to the Dow apart from the structure of wave ‘4’.
Wave ‘4’ did not create a new low in wave [c] of ‘4’.
So the pattern is a running flat.

The rally into the highs off that low is a series of 1,2 waves followed by an acceleration higher in wave (iii) of [iii] of ‘5’.
I am still of the opinion that wave ‘5’ of (5) will not run away completely in a melt up scenario.
I think we will find a top in this pattern in the area of 3850 to 4000.
That is where wave ‘5’ will reach the upper trend line on the 4hr chart.
And wave ‘1’ is then just around the corner.

We may have taken the guts of a year to come to a new high in wave ‘5’ of (5),
but the same overall dynamic is in play here.
Extreme optimism on razor thin margins and fanciful forward projections have brought us to these highs.
And that will be paid for dearly without a doubt.

Tomorrow;
I will be watchin the pattern unfold in wave [iii] of ‘5’ for the coming week.
when that tops out we can make some solid projections again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays declines have brought the larger pattern back in line today.
The top of wave (B) completed as a combination wave.
And the decline today is very much an impulsive move lower to begin wave (C).

I am not sure if todays decline is wave ‘1’ complete,
or if we can break the wave ‘B’ low in wave ‘1’ red as shown.
We will have to wait and see if the price turns lower overnight again.

Tomorrow;
Watch for wave ‘i’ and ‘2’ to create a bearish lower high again this week,
This overall pattern in wave [2] will be complete by the end of this month at this rate.
So we may be facing a major buying opportunity again before the end of this year off the wave [2] low.