Good evening all you fine people.

And may the Blessings of the Lord of Hosts be with you all tonight.

On with the show.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The downside correction in EURUSD continued today.
As the days go on the action looks more like three wave move in (iv) grey as shown.
This pattern should take us a little lower tomorrow with a break of 1.20
and then a rally back into 1.2200 again to complete five wave up in wave [v] green.

Tomorrow;
Wave ‘c’ of (iv) should trace out five waves down and complete with a break of 1.20.
A move below 1.1900 again will shift the balance in favor wave [i] down.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has corrected higher in three waves in wave ‘ii’ pink at todays highs.
The price filled a trend channel also and then we saw a sharp spike lower off the trend channel again.

The decline this evening should begin wave ‘iii’ down now,
and a break of 1.3289 within the wave ‘ii’ correction will be the first signal that wave ‘iii’ down has begun.

Tomorrow;
Watch for wave ‘iii’ down to hold below 1.3476 and then move below 1.3224 to confirm.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The consolidation in USDJPY continued today with the price moving sideways and narrowing the range again.
If we see a break of the rising trend line off the low,
then I will have to abandon the bullish count and start from scratch again.
I have some ideas that I am working on,
and I think I will do a video tomorrow to flesh that out a bit.

I am very much still in favor of a big USD rally coming our way,
and the sentiment picture reinforces that idea.
In general,
when everybody hates something,
I tend to warm to it.
Hence my stance on the USD now!

Tomorrow;
104.75 is the first level of interest in the bullish thesis.
Lets see if we can break above that level tomorrow.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It’s beginning to look a lot like…………….. an ending diagonal!

The price again fell back into the rising wedge formation today after a brief new high.
This move could be part of wave (iv) in an expanded flat pattern.
Wave ‘c’ of (iv) should break the wave ‘a’ low in that case.
And then a final run higher in three waves to complete wave (v) of [v] before the end of the week.

Tomorrow;
The longer this grind higher continues,
the more likely that we have a topping pattern in play now.
The ending diagonal will hit a new high before the end of the week if all goes to plan.
Price must hold above the wave (ii) low at 29460 for this pattern to remain valid.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Todays decline in gold has moved in favor of the alternate count now.
So this drop takes the wave (a) label.
WAve (b) and (c) should carry us lower still before the end of the week.
Right now the 50% retracement level lies at 1821.
so that is the minimum target for wave [ii].
I suspect we might go lower though as a counter action to the sharp rally in the wave [i] last week.
A break of 1800 should be enough to complete wave [ii].

Tomorrow;
Watch for wave (b) to form a lower high below 1875.
Wave (c) down should complete before the end of the week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

This market is not giving me anything to work with this week.
The decline off the recent high is still developing correctively.
And the low at wave (iv) at 44.00 is safe for now.

I m wondering if wave (iv) is tracing out a triangle now.
It might explain the continued corrective nature of this move.
In this case wave (v) will again pop above 46.00 to complete the pattern.

we will see soon enough on that onw.

Tomorrow;
Watch for wave a break of 44.00 to rule out the triangle and signal a top in place.
Another flat trade will favor the alternate wave (iv) idea.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The pattern in the S&P is still moving along in that ending diagonal wedge,
even after todays spike to the downside.
That spike lower seems to be part of an expanded flat correction in wave (iv).
and now we should see one more high in wave (v) to top this out again.
Wave (v) will ideally hit the upper trend line to finish wave [v] green.
and then drop back in a five wave pattern to signal a turn off the top.

Tomorrow;
Watch for wave (v) to begin a three wave rise into that 3711 target.
Price must hold above 3594 at wave (ii).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays decline has also pushed silver into the alternate count scenario.
Today drop came very close to breaking the previous lows at wave (iv),
and with that I have changed to the larger wave [i] and [ii] scenario this evening.

Tomorrow;
Wave (a) down is likely done now,
and wave (b) should rally to a lower high below 24.85.
Wave (c) and wave [ii] should fall into the 23.00 handle to complete this correction.