Good evening folks, and may the Almighty Lord bless you all tonight.

I am going to keep it short and sweet tonight for the simple reason of exhaustion!
I will write my socks off tomorrow to make up for it!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD only traced out a three wave decline into todays lows,
and this was followed by a sharp spike higher this evening.
The pattern in wave [c] now reads wave (iv) at todays lows and wave (v) underway up into that 62% retracement at 1.2197.

Tomorrow;
Watch for wave (v) to peak between that level and the upper trend channel line before reversing into wave [i] of ‘3’.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is causing headaches at these dizzying heights alright,
but the pattern on the 4hr chart still reads best as an ending diagonal wave [v].
I can only suggest that the move looks incredibly stretched and is very likely to collapse in on itself very soon.

Tomorrow;
Wave (v) has traced out a final zigzag pattern,
with 5 waves in ‘a’ 3 in ‘b’ and 5 again in wave ‘c’.

If the decline today falls back below the 140 level,
then we can start working out the waves downwards again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJYP should be sending shivers down the spines of those who are uber bullish on the stock market.
This market is suggesting a serious turn in the USD is now underway.
To me,
this move to a stronger USD is the undertones if risk aversion starting to grow.
And this will crush risk assets over the coming months if the pattern continues as it is.

Tomorrow;
Wave [i] of ‘3’ has traced out three waves so far with a nice acceleration higher today.
Wave (iii) of [i] is complete at the session high.
Watch for wave (iv) to correct overnight and hold above the wave (i) high at 105.42.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The correction last week has really over shadowed the patter in wave [v].
And after todays sharp move to a new all time high I am rethinking the labelling in wave [v] tonight.

Wave (a) rallied in five waves into the recent highs.
Last weeks correction is labelled wave (b),
And now wave (c) is running higher again in five waves.
This should meet the upper trend line to complete the ending diagonal and then move lower impulsively.

Tomorrow;
Todays rally is in wave ‘iii’ of (c),
wave ‘iv’ of (c) should hold above the recent left shoulder and then a final pop in wave ‘v’ into the trend line will polish off this pattern nicely.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The reversal higher off the session low has moved in favor of the alternate wave (ii) tonight.
So I have switched to that pattern now.

Wave ‘b’ corrected in three waves to a higher low above 1760.
And now wave ‘c’ is likely to rally into about 1820 again to close out three waves up in wave (ii).

Tomorrow;
Watch for wave ‘c’ to break 1815 at a minimum.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

the pattern in crude is topping out a five wave rally in wave (v) of [v] today.
Signs of a top in place will come with the first decline below 58.50 at the wave (iv) low again.
Until then Its a matter of letting it play out I’m afraid.

Tomorrow;
The rally is definitely petering out now with more volatility in the action this week.
Watch for wave (v) to put in a top tomorrow.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I have changed up the count in the S&P tonight also to mirror the Dow.
As we have moved along over the last week the patterns have merged a little better.

The 4hr chart shows an ending diagonal in play for wave ‘5’ blue.
Wave ‘5’ hits the 162% extension of wave ‘1’ at 3990.
So that is the target for this pattern now.

Waves (a) and (b) are down at this weeks low.
And now wave (c) is up and away tonight.

Tomorrow;
Wave (c) is expected to trace out a five wave pattern higher
and at this point wave (c) seems likely to top out above 4000 at the upper trend channel line.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The action in silver was very weak today with a three wave pattern in play at wave (ii) grey.
The price is still holding a small lower high below wave ‘2’.
And if wave (ii) is now done.
We should see a decline tomorrow to begin wave (iii) of [i] of ‘3’.

Tomorrow;
Watch for wave ‘2’ to hold at 28.30.
wave (iii) should push lower into the 26.00 handle.