Good evening folks.

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

Down to business.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We are holding a slight lower high off wave [b] this evening,
but still no confirmation of a turn into wave [c] as of yet.
A sharp move lower to break 1.1800 again will be a good signal that wave [c] has started.

The action today is a little un-nerving given that we saw a rally back into that previous high,
but I am willing to allow this time to roll over into wave [c].

Tomorrow;
Watch for wave [b] to hold at 1.1906.
Wave [c] will be confirmed with a break of 1.1800 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Similar situation in cable tonight as the price formed a lower high labelled wave ‘ii’ pink.
The price dropped off that lower high also,
so the bearish signal still stands for a sharp decline down into wave ‘iii’ of (i) of [c].

Tomorrow;
Watch for a break of 1.3263 at the wave ‘i’ low.
If that happens,
it should lead to a sharp decline to break 1.3195 at initial support.

This market is looking very vulnerable now especially given this [b] wave high after a very corrective looking rise over the last month.
It could give way very quickly.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY made some more progress to the upside today also.
The price corrected overnight and then spiked higher once the london session kicked off.
This action is looking pretty positive at the moment,
and if we continue higher to break 105.12 again this week,
that should be a reasonable signal that wave (iii) up is getting underway.

Tomorrow;
All eyes on that wave ‘b’ high at 105.12 for the next few sessions.

I am not sure if waves ‘i’ and ‘ii’ are complete with the current higher low,
or if wave ‘i’ will rally to break 105.12 before correcting.
we will see on that front.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW made that new all time high again today,
but its nothing to write home about in my book!

We are tripping along this pattern now and making good progress every day.
I suspect that we will see a further five wave pattern break out in wave [v] green as shown.
The rally off the wave [iv] low already has traced out five waves itself,
so we will likely see a corrective higher low form in wave (ii) tomorrow.
The latter end of the week looks positive in wave (iii) of [v].

Tomorrow;
this final rally must hold above 29000 to remins valid now.
Watch for wave (ii) of [v] to correct in three waves to a higher low above 29200.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave (iii) of [iii] made some more headway to the downside today as suspected.
Despite the the fact that we are pushing lower,
the declines are starting to lose momentum overall.
And the further we progress along this pattern,
the slower the momentum will get.

Believe it or not,
the more this market declines,
the more interested I am becoming for the next big leg higher!

Tomorrow;
Watch for wave (iii) of [iii] to find a low soon.
I would like to see a solid break of the 1800 level to complete wave (iii).
Then we should begin a correction in wave (iv).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I think todays rally has put a knife in my longer term pattern!

I am still working on a fourth wave correction and we should top out in that sooner rather than later,
but the overall structure of the weekly count is now looking different.
The outcome is the same in my mind.
We should again test the sup $10 level again in wave (5) of [5] of ‘c’.

I am going to have to allow a few more days action to try to piece the short term pattern together.
For now I am looking at this rally as part of wave ‘C’ of (4).
In that case,
we might have higher to go to complete the internal pattern.

I ask for your patience on this one for now!

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is marching steadily higher also today.
The triangle correction over the last week is now complete in wave [iv] green.
And todays action is now viewed as the beginning of wave [v].
Wave (i) of [v] has traced out a small five wave pattern into todays highs.
Wave (ii) should correct to a higher low above 3580 or so.
And then wave (iii) of [v] will bring with it all those gushing headlines about the un-stoppable rally.
And the ‘bright future’ for the market under a biden presidency etc etc!

It wont matter who the president is,
the future is not bright at all.

We are staring dead pan into a long depression and most likely a new world war to come along with it.
And the way things are going,
the western world is walking headlong into a type of socialist autocracy.

Hurray for the new all time highs!

Tomorrow;
Watch for a small correction in wave (ii) to hold above 3580 or so.
The wave [iv] low at 3551 should hold for now.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The price is stepping lower into wave (iii) today.
Although the progress is slowing as I mentioned in gold earlier.
I have labelled wave (iii) as an ongoing pattern with wave ‘iii’ of (iii) yet to complete.
We may see a consolidation in wave ‘iv’ soon,
but wave ‘v’ should carry us lower again before the week is out.

I would like to see wave (iii) complete below 22.00 again.
And wave ‘iii’ of (iii) should break support at 22.56 again before correcting higher again in wave ‘iv’.

We are making progress in the larger pattern for sure,
but we are not there yet,
and it looks like we will see another few large moves lower before this wave [2] completes.
So I will be bracing for some acceleration yet to come.

Tomorrow;
Watch for a drop into 22.56 for wave ‘iii’ to complete.