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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I have switched to the alternate count for EURUSD wave ‘B’ today.
This really does not change anything in the long term,
only prolong the sideways to no-where path in this large degree triangle pattern that I have been harping on about for years now!

Back to the short term.
The new count for wave ‘B’ blue labels the recent rally as wave [a] of ‘B’.
The price is now expected to drop in three waves in wave [b] of ‘B’.
And then wave [c] will rally to a double top in the area of 1.22 again over the coming month.

Tomorrow;
Watch for wave [b] to begin its three wave decline before the end of this week.
A drop below the previous fourth wave at 1.1992 will signal wave (a) of [b] has begun.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Not much to report in cable today.
the price action this week now favors a larger three wave correction in wave (ii).
Wave (iii) down is still expected before the end of the week,
and the low at wave (i) is the level to watch to signal wave (iii) of [c] has begun.

Tomorrow;
Watch for the high at wave [b] to hold at 1.4008.
Wave (ii) should complete with a break of 1.3927,
and then a sharp reversal into wave (iii) should begin.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has corrected throughout the session today and this action signals wave ‘iv’ pink is now underway.
the price has fallen below that 108.90 target level today,
but wave ‘v’ of should rally back above the line again to complete wave (iii) tomorrow.

The rally off the wave ‘4’ low needs a five wave pattern to signal that wave ‘5’ is underway.
We are not quite there yet,
but another few sessions of the right action will create a five wave pattern higher
and then we can look for a bullish higher low to build in wave [ii] next week.

Tomorrow;
Watch for wave ‘iv’ to complete tomorrow and then wave ‘v’ of (iii) to push back towards 109.50.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The price continues sideways and compressing today and this is in line with the theme of the week so far!
I am looking at another count within wave (c) as an alternate.
This involves a triangle in wave ‘iv’ with wave ‘v’ left to come.
This count will be invalidated if the price falls below 33680 again,
as that will break the triangle pattern.

The main count shows a declining wedge in a possible wave ‘i’ into todays lows.
The price is again retracing higher this evening.
I have labelled this as wave ‘ii’ of (iii),
the count now calls for wave ‘iii’ of (iii) to begin before the end of the week.

Tomorrow;
Watch for a break of 33680 again to signal wave ‘iii’ is underway.
The price must hold below 34160 for this bearish count to hold.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The decline off the wave [iv] high has not developed into a clear five wave pattern lower.
The only impulsive pattern left to consider in wave (i) down is a leading wedge as shown.
In this case,
wave (ii) has retraced higher today to for another lower high.
This bearish count must be conformed by the end of this week in order to rule out the bullish alternative which is shown on the 4hr chart.
And if we see a break above 1810 again,
that will strongly favor the bullish count.

Tomorrow;
Watch for wave (iii) to begin and break 1757 to confirm wave [v] is in force.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude put in a strong rally to break above the previous high at 64.35 today.
This rally invalidates the previous count for wave [ii].
And this evening I have I have updated the count for wave [ii] to shown a similar triangle wave (b),
followed by a five wave rally in wave (c) to complete wave [ii].
The price can still make another high in wave ‘v’ of (c) before reversing into wave (i) down next week.
But if we see a drop below 60.60 again,
that will indicate wave (i) of [iii] is in force.

Tomorrow;
Watch for wave ‘v’ of (c) to complete by the end of this week.
We do have a new high today so the minimum target for wave ‘v’ has been met.
A sharp drop tomorrow will signal wave (i) is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The lack of action today again suggests a corrective pattern is developing in wave ‘v’.
The price is crawling along the trend line to the upside now,
the momentum loss is not lost on me given that I am tracking fifth wave!

However I will not be surprised to see a spike into a fifth wave before this weeks ends.
And that will open up another opportunity to look for a reversal after this completed pattern.

Tomorrow;
Watch for todays low to hold at 4181,
a run up to about 4210 will do it for wave ‘5’ of ‘v’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking at the possiblity of a series of 1,2 waves off the top now.
This should lead to a sharp acceleration lower in wave ‘iii’ of (iii) tomorrow.
If the price falls below 25.60 again that will signal wave ‘iii’ has begun.

The alternate count in silver views the current sideways action as a correction in wave [c],
and this allows for wave [c] of ‘B’ to break to a new high above 26.63 again to complete five waves in wave [c].

Tomorrow;
the key level in silver lies at 25.60.
this level marks the wave [a] high and if we break that level it will rule out a five wave pattern higher off the March lows.
This will seal the fate for silver and favor a larger drop into wave ‘C’.