Good evening folks, welcome back, and God’s Blessings to you.

I did not get a chance to record the weekend video so I decided to do a preview for the week ahead this morning,
you can view that below.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Todays action saw a rebound to a further lower high this evening.
The rally today does not favor either version of the short term count yet.
However if we see a break of 1.1988,
that will rule out the main count and trigger the alternate wave (ii) as shown.
A drop back below 1.1873 will favor the main wave count,
and we can then be confident that the price is moving down into wave ‘iii’ of (iii).
Wave (iii) should break 1.1600 at a minimum.

Tomorrow;
watch for 1.1988 to hold ant wave ‘iii’ to break 1.1873.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We can hold the same alternate count for cable today also.
A larger wave (ii) is a possibility,
but I am easily favoring the continued drop into wave ‘iii’ of (iii) over the coming days as per the main count.
Wave ‘iii’ of (iii) should break 1.3500 again at the previous fourth wave.

Tomorrow;
A break of 1.3960 will favor the alternate wave (ii) count.
Watch for wave ‘ii’ to regain control tomorrow and fall below 1.3776 to confirm.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

There is a good chance that the triangle in wave [iv] green is now complete at todays lows.
The price has simply drifted to nowhere today,
and this can easily be explained by a completing wave (d) and (e) of that triangle.
The margin is quite close this evening on this count though.
The low of the session at wave [iv] must hold at 108.60.

Tomorrow;
Wave [v] needs to begin now and break above the top end of the range of the triangle at 109.35 to confirm.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW rallied today to give us another positive Monday trade!
We are sitting at a lower high this evening,
and the short term count is expecting a second wave to top out now.

I can see a five wave decline into the lows early this morning,
which I have labelled wave (i) down.
The price has retraced higher today and just failed below the 50% retracement level this evening.
So this rally is either a full wave (ii) correction now in place,
or wave ‘a’ of (ii) if we are to see more consolidation below the high tomorrow.

Tomorrow;
Watch for wave (iii) down to begin with a push back below 32400 again.
I am aiming at a larger five wave impulsive patter to build over the coming week.
So a decline tomorrow is needed to keep this count on track.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am still working on the thesis that we will see a further five wave decline in wave [v] of ‘C’ this week.
As I mentioned in the video earlier,
gold is looking very tempting now in terms of the larger pattern,
But the short term pattern suggests one more test of the 1650 – 1600 range to complete the structure correctly.

Tomorrow;
The main level of interest lies at the previous wave (b) low at 1699.
So if we see a break of that low again,
that will signal wave (iii) of five is in force.

As an aside!
I have seen an amount of bearish articles and commentaries over the last few days that suggest we are bearish an extreme in sentiment now.
This is exactly what you might expect near a major low!
Eyes on for a reversal soon.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is holding below the wave (i) low today after a pretty corrective looking rally off last weeks low.
The main count still stands,
and I am labeling todays lower high as wave ‘iv’ of (iii).
The alternate wave (iv) label is a possibility,
but it depends on the next decline whether this labelling fits better or not.

Tomorrow;
I want to see the low of wave (i) hold at 63.10.
A drop back below the 60 handle again will suggest that wave ‘v’ of (iii) is underway.

If this count is correct,
then we will see a pretty ranging trade this week with a series of lower highs as wave [i] closes out.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has a clearer three wave pattern higher in place into todays lower high.
The the rally into the session high has now halted and the price is reversing into the close.
IF this is wave ‘ii’ topping out as I have suggested,
then wave ‘iii’ should arrive tomorrow and fall sharply towards the 3800 level again,
and then a consolidation at that level should occur in wave ‘iv’ pink.

Tomorrow;
We are [poised at a pretty pivotal moment in the short term count.
The margin for defeat here in the bearish count is small,
but the scene is perfectly set for a sharp move lower in terms of the market environment.
And this week is as good as any as they say!

Watch for last weeks all time high to hold and for wave ‘iii’ down to take over.
Wave ‘iii’ must accelerate and push into 3800 at a minimum I expect.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver moved lower off the wave (ii) low today whish suggests wave (iii) is now underway.
The price has not broken the previous wave (b) low at 25.36 yet,
but once that level goes,
I think that will be enough to confirm wave (iii) of [iii] is underway.

Todays action can be viewed as wave ‘i’ and ‘ii’ of (iii).
If this is correct,
then wave ‘iii’ of (iii) will accelerate lower into that lower trend line at the 24.00 level again.

Tomorrow;
Watch for wave ‘ii’ of (iii) to hold below 26.30.
Wave ‘iii’ of (iii) will be confirmed with a break of 24.80.