Good evening folks, the Lords Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

This morning EURUSD pipped into the price range between the previous fourth wave top and the 50% retracement level.
That marks one target off the list.
The action off that early high is still corrective looking at the moment,
so I expect we will see a move into that 50% retracement level at 1.2025 tomorrow to finish off wave [c].

Tomorrow;
Watch for the price to fill the trend channel and complete wave [c] of ‘B’,
then price should fall impulsively off the wave ‘B’ top to begin the next leg down in wave ‘C’.

A break of 1.1875 will signal wave [i] of ‘C’ is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is dead in the water today and with that action it is hard to call this correction in wave ‘ii’ complete yet.
The pattern is very undecided and overlapping,
so I suspect todays action is a correction within wave ‘c’ of ‘ii’.
We should see wave ‘iii’ down begin quite sharply off the top of wave ‘ii’.
But wave ‘ii’ will take up tomorrows action to complete.

Tomorrow;
Watch for one more spike above 1.38 to complete wave ‘ii’.
A drop below 1.3667 will signal wave ‘iii’ has begun.
1.3918 must hold.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is holding onto the lows of the week today,
but the action suggests there is a reversal higher coming our way soon in wave (c) of [b].

The price drifted lower into a new low in wave ‘c’ of (b),
The decline in wave (b) is better viewed as a three wave pattern and this favors the main count.

Even though the price is close to the initial target for wave [c] at one degree higher,
I am not willing to switch to the alternate count just yet.

Tomorrow;
Watch for wave (c) to begin the push higher in five waves to complete an expanded flat wave [b].

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has lurched higher in a three wave pattern in wave ‘v’ over the last few sessions.
The action today has created a throw over above the the trend line surrounding the ending diagonal wave (c).
And with todays rally we have reached to within a hairs breadth of the level where wave (a) and (c) reach equality.
This pattern is now filled out to completion.
If wave (c) is in-fact an ending diagonal,
then we should see a decline soon to put an end to that pattern.

Tomorrow;
Watch for wave ‘v’ to top out possibly with a touch of the (a) = (c) line at 34150.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I know that we have rallied to a new high today and broken above the recent 1758 high,
but I am looking at the overall pattern that has formed at the recent low
and I cannot view this as anything other than a three wave correction higher.

The biggest factor in favor of this view is the decline in wave (b).
this is most definitely a three wave decline,
which denotes an overall correction in progress.
The rally off that low can be viewed in five waves as I have shown.
Or,
I can read it as a three wave rally in a complex correction overall.

Either way,
the options all point to a new low ahead.
I will have to wait until next week for that to materialize now.

Tomorrow;
Watch for wave ‘v’ of (c) to top out tomorrow.
A break back below the wave ‘iv’ low at 1722 will signal wave [v] has begun.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has creeped up underneath the 62% retracement level today and the trend channel is now pretty much filled out.
There is a clear three wave pattern in place now,
and the rally in wave (c) has a five wave pattern near to complete this evening.
Wave ‘v’ of (c) should top out tomorrow and then reverse into an impulsive decline early next week.

Tomorrow;
Watch for wave ‘v’ of (c) to complete near that 62% retracement at 63.80.
A loser high below that level will signal wave [iii] has begun.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has now reached into the upper trend line today,
and with that rally the price has completed a five wave pattern in wave ‘v’ of (c).

Here is the overall position of the market pattern.
Wave (5) has a five wave pattern complete at wave ‘5’ blue.
Wave 5 blue completes an ending diagonal at wave [v] green.
Wave [v] green has a three wave pattern complete by reaching the top of the trend channel in wave (c).
Wave (c) has a five wave pattern complete at wave ‘v’ pink.
and wave ‘v’ pink has a five wave pattern complete at wave ‘5’ black.

In my book that is a pretty full pattern in place.
And that looks like a really stretched pattern now.

Tomorrow;
Watch for a drop to begin off the top of wave ‘5’ of ‘v’.
4101 marks the top of wave ‘1’ of ‘v’.
A break of 4101 will signal wave ‘v’ is done.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Three waves up have filled a trend channel at the session highs this evening.
The price has also hit the 78.6 retracement level of wave (i) at 25.99.
So the pattern is now ready for a reversal to begin into wave (iii) down.

On the 4hr chart I have posed an alternate for wave (C) of [2].
This involves an overall three wave decline as part of an overall triple combination correction in wave [2].
In this case,
wave ‘B’ of (C) is topping out now,
and wave ‘C’ of (C) should begin soon.

I will look at this pattern in depth in tomorrows video.

Tomorrow;
watch for wave ‘i’ of (iii) to begin with a drop below 25.00 again.