Good evening folks.

Again, I pray God’s Blessing on you all tonight.

This is happening at a time when the corporate balance sheet has never been in worse shape!

And corporate debt has just gone parabolic!

And a time when when the % of ‘zombie’ companies has never been higher.

Go figure you would value your intangibles at record highs when you owe your shirt, and everything else along with it!

There will come a time when actual things are worth something again, and your ‘intangibles’ will be discounted with a very healthy suspicion.

Not yet it seems!

Down to business.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD found support at 1.1814 today and is now rising off that level tonight.
After a week of net flat action I still cant pick which is the more likely wave count on the short term chart.
But I can say that if we see a solid break of 1.1814 tomorrow,
then I will switch to that alternate count.

Tomorrow;
The main count calls for another push above 1.1920 to complete the pattern in wave (E) of [B].
The price must then fall again in order for the triangle wave (E) of [B] to remain valid.

Watch for 1.1814 to hold.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is falling today off a double top to complete wave ‘v’ of (c).
The action promising in terms of from,
but the move is too small yet to call the top in place for sure.
Only a break of the previous wave ‘iv’ low at 1.31 again will confirm that wave (i) of [c] has begun.
So that is what I want to see over the next few days.

Tomorrow;
watch for wave ‘ii’ of (i) to complete below 1.3312.
Wave ‘iii’ of (i) should drop below that 1.3100 level and signal a turn into wave [c].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Despite a good start last week with that nice impulsive looking rally,
USDJPY has now given up most of its gain in wave (ii).
The price still hold a three wave corrective decline into this weeks low,
but the move off the low yesterday has only traced out a three wave rise.
I can really only get excited about the possibility of a turn into wave (iii)
once we see a rally above the wave ‘b’ high at 105.12.

Tomorrow;
Watch for the low at 103.17 to hold and wave ‘i’ of (iii) to turn the tide of this decline.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has now traced out a three wave decline to a higher low above the wave (iv) triangle.
This action is labelled as wave ‘ii’ of (v) of [iii].

But I can also easily view this evenings low at one degree higher in wave (ii) of [v] of ‘5’.
There is more upside in both counts,
although the alternate count will not allow for much of a rally above 31000 on the very upper end of that count.

Tomorrow;
Both wave counts call for the price to hold above the wave (iv) low at 28930.
Watch for wave ‘iii’ of (v) to begin with a break of 29967 again.

If the price breaks the wave (iv) low again,
then I will have to rethink the short term count all together.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold was on the verge of breaking the wave [i] low at 1850 today.
but the price stopped short,
ad is now recovering some of the losses this evening.

The most likely interpretation is still for an extended decline in wave [iii] of ‘5’ to take over soon.
And I can view this weeks decline as wave (i) of [iii] to begin that decline,
but I do want to see a break of initial support at 1850 to confirm the turn has begun.

Tomorrow;
Watch for wave (i) of [iii] to break 1850 before turning higher into wave (ii).
Wave (ii) must hold below 1896 again.

there is an alternate count for wave [ii] which would allow for one more test of 1900,
I will go into that in tomorrows video if needs be.

Lets see if wave (i) can break that 1850 level tomorrow.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

As the days go on the action in crude gets slower and slower!
I am sticking to my guns in calling the action off the top as waves (i) and (ii).
The correction in wave (ii) is a clear three wave pattern,
and now we have a decline to a further lower high this evening in waves ‘i’ and ‘ii’.

The good this about this count is that we will get either confirmation or invalidation pretty soon,
maybe even tomorrow.

If this count is correct,
then the next move will be a break of 40.25 again to confirm wave (iii) down.
While a break of 43.27 will invalidate this count.

Tomorrow;
Watch for wave (ii) to hold at 42.66.
Wave ‘ii’ pink should hold below that level overnight.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am giving the alternate count the benefit of the doubt this evening!

The action late in the session favors the idea that we are heading higher in the short term.
So this really calls into question that previous wave [ii] correction idea.

This evening you will notice that the session low today is now viewed as wave (ii) of [v].
And wave (iii) of [v] should begin off that low.
A new all time high should occur over the next week in wave [v] of ‘5’.

there is an alternate count for wave [iv] which I think is worth looking at also.
That involves a larger triangle pattern.
It will be pretty obvious if this count is correct by the action in the next day or so.

Tomorrow;
Wave (ii) should be complete at todays lows.
And wave (iii) of [v] will be confirmed with a break of 3625.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is moving higher this evening in a possible three wave correction in wave (ii) of [iii].
This rally should complete below 24.69,
and then a reversal lower should occur into wave (iii) of [iii] early next week.
If the price breaks the wave [ii] high at 24.69 again,
that will signal wave ‘2’ is still in force.

Tomorrow;
Watch for wave (ii) of [iii] to complete in three waves below 24.69.