Good evening folks, and may GOD Almighty Bless you tonight.

And this is where we stand!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The downside bias continues but without the typical wave three progress,
and the lack of significant progress to the downside is worrying me a little now.

In defense of the bearish outlook,
as long as the market continues stepping lower in the current fashion,
then I think we are safe enough to assume that wave (iii) is still in play here.

Tomorrow;
Todays session high caused a small overlap with Fridays low,
this does not derail the count yet,
but I would like to see wave ‘iii’ of (iii) to continue lower and break 1.20 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable dropped lower quite sharply this morning and hit a low at 1.4033.
The price has retraced about 50% of that decline this evening.

This move is now viewed as the initial step lower to begin wave ‘iii’.
We can call it a small impulse pattern to kick off a five wave decline within wave ‘iii’.
This pattern is now at a critical point,
I want to see wave ‘iii’ make a significant move lower into the 1.3950 handle before correcting higher again.

In general,
then larger the decline from here the better in order to hold the bearish pattern.

Tomorrow;
Watch for wave ‘ii’ to hold at 1.4128.
wave ‘iii’ should break 1.4033 again and fall sharply from there.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

WAve ‘i’ up should be close to topping now.
Ideally I would like to see a break of the previous high at 110.32 before the price corrects into wave ‘ii’.
Todays action is viewed as corrective within wave ‘i’.
And I am allowing for another push higher to break the wave ‘b’ top.
We will see what the overnight trade brings,
but as long as 109.79 holds,
then I think wave ‘i’ will break that high at 110.32.

Tomorrow;
Watch for wave ‘i’ to complete by tomorrow evening.
Again we hit an interesting point in the pattern as wave ‘iii’ of (iii) of [iii] is just around the corner.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

No headlines made today as the market is just passive and flat this week so far.
We had a small spike lower this afternoon,
but no sign of an acceleration into wave ‘iii’ down yet at least.

As I have shown in tonight’s intro,
the market has never been in the position we are in today and not in a good way.

Whether or not we have an immediate collapse now or if we hold out for another new high,
it really has no bearing on the outcome now at all.
The current market conditions will lead to only one future reality,
that is an all out depression with most likely a major war on the tail end of it!

That does not help the short term pattern I know,
but as far as I can see we are simply shuffling through the final minor waves before we collapse in an epic fashion.

Tomorrow;
34740 must hold for this short term pattern to remain valid.
WAve (i) down should break below 33470.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I think Gold is now moving within wave ‘ii’ of (iii) to the upside.
The pattern suggests that we will see three waves u in a typical zigzag higher.
A break of 1870 again will complete the correction.
And then we can look for wave ‘iii’ down to begin.

Tomorrow;
As long as wave (ii) holds at 1902,
then wave (iii) down is the next move to prepare for.
Watch for wave ‘ii’ to complete tomorrow and wave ‘iii’ of (iii) to begin with another break of 1845.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has now complete five waves up in wave (v).
This rally is comes against the backdrop of a clear divergence on the 4hr chart.
While the price has not touched the upper trend line yet,
the pattern is complete as far as the basic expectation is concerned,
so I am looking for crude to decline in a meaningful manner before the end of the week.

Tomorrow;
Watch for wave ‘v’ of (v) to close out and then all eyes on the fourth wave low at 68.55 again.
A break of that level will be the first sign of top in place for wave [c] of ‘5’.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P popped to a new all-time high at the open and now we are back to flat again for the week.
There is not much I can add to what I have said on this market.
We are stretched beyond belief already,
and the current extremes only speak to the future calamity that we face,
rather than any new dawning age of wealth and prosperity.

The world has it exactly backwards in this regards.
Extremely high stock market valuations call for a stock market crash and nothing else.
But of course we tend to look at it as a reflection and a justification of our own profane hubris!
nothing changes in this world!

Tomorrow;
The wedge in wave (v) has the price held for now.
A break down out of this wedge will allow us to work on another impulse pattern lower.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking at a larger three wave flat for wave ‘ii’ this evening.
This will allow for a test of 28.00 again before wave ‘iii’ begins.

As a possible alternate,
the decline today can also be viewed as the beginning of wave ‘iii’ down,
in this case, 28.00 will not be broken and wave ‘iii’ will take over early tomorrow and fall into 27.00 quite quickly.

Tomorrow;
Watch for wave ‘ii’ to complete and wave ‘iii’ of (iii) to push through 27.00 to confirm the pattern.