Good evening to one and all, and may you all be mightily Blessed by the Messiah Yeshua tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The rise over the last few sessions in EURUSD has now hit it’s upper trend channel line.
The pattern is a reasonable zigzag pattern,
and now we have a spike lower off the top tick today.
The correction in wave (iv) may be complete at todays highs,
and if so we should see a reversal into wave (v) of [iii] tomorrow.

Of course wave (iv) can get more complex over the coming days and just drag sideways.
But for now,
the initial signs suggest that this correction is over.

Tomorrow;
Watch for wave (v) to begin with a lower high below 1.1969 in wave ‘ii’ of (v).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has rallied with a fair strength over the last few days,
much more so than eurusd.
This fact is a little concerning to me as I would not usually expect that in a fourth wave.
I will stick with the idea that this is wave (iv) of [i] unless the price breaks above 1.4080 at wave (i) again.

What happens from here is critical though.
I want to see a sharp decline off the highs to push back below 1.3782 again in wave (v) to complete five waves down.

Tomorrow;
Watch for wave (iv) to hold at 1.4000,
we should see another five wave drop take over here in wave (v) of [i].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is continuing to show strength today with a push back above the previous wave ‘3’ high again.
this action suggests that wave ‘iii’ of (iii) is underway.

Todays action was punctuated by a small drop and a lower high this evening.
I am watching a possible there wave decline in wave ‘2’ of ‘iii’ developing.
The overnight trade should complete a correction in wave ‘2’.
That leaves the door wide open for a powerful surge in wave ‘3’ of ‘iii’ of (iii) of [iii] over the coming days!
An acceleration back above 111.10 again will signal wave ‘3’ has begun.

The alternate count is best viewed on the 4hr chart.
This count allows for a larger three wave correction in wave (2) to play out.
If the price falls below 109.71 again that will trigger the alternate count.

Tomorrow;
Watch for wave ‘2’ of ‘iii’ to complete above 110.50.
Wave ‘3’ should begin by tomorrow evening.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It may be a long shot,
but there is a possibility that we have a second wave high in place this evening.
The market has rallied back into that Fibonacci band between 50% and 62% retracement levels.
And again we are seeing weakness develop off todays highs.
This correction in wave (ii) can always hold onto the price for another few days if a larger three wave correction takes hold.
But for now,
the pattern has achieved enough to at least allow for the possibility that a reversal could take place into wave (iii) down.

A weak decline from here will signal that wave (ii) is going to extend into a larger three wave pattern.
We will just have to wait and see on that front.

Tomorrow;
Watch for a decline into wav e’i’ of (iii) to drop into 33500 at a minimum.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

We have a small double top forming below 1800 over the last few days now.
Wave (iv) blue has not developed into the triangle that I suggested last night.
But the price pattern did fill a trend channel in three waves at todays highs.
And now we have a spike lower off the high which suggests the price is now moving lower into wave (v) of [iii] again.
Only a break of 1761 again will signal wave (v) is underway.

Tomorrow;
Watch for a drop below 1761 again in wave ‘i’ of (v).
Wave (v) may well complete by the end of this week if the pattern develops quickly.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Another day and another chance for a filled out pattern in wave (v).
The price rose into the trend lines earlier today and topped out with a break above 74.
This is now the highest close since October 2018.
And we all know what happened after that high too!

The cries every day are for higher and higher price with a backdrop of the runaway inflation narrative adding fuel to this fire.
We will see on the inflation front,
but I am going to suggest that this historic rally is near done here and what will actually happen from here will wipe the smile off opec’s face for sure!

Tomorrow;
Lets see of we can finally develop a solid five wave decline off the highs to turn our sights lower again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is holding below the high today but only by a touch!
this pattern can easily be invalidated tomorrow so I can’t hold on to tightly here.
There is still a chance that we reverse and drop sharply into wave ‘iii’ down,
but for now I am looking at the alternates here to see what are the options.

I have shown one of the alternates for wave (v) as an ending diagonal still underway.
The decline last week is wave ‘iv’ and now a three wave pattern is developing in wave ‘v’ of (v).
This is the next best fit for the current action.

Tomorrow;
Watch for wave ‘ii’ to hold below the highs and wave ‘iii’ down must reverse quickly from here.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Three waves up in wave (a) and now a sharp decline to get wave (b) underway.
The decline in wave (b) should hold above 25.54 and then turn higher into wave (c) by friday,
but if we do see a break of 25.54 again and then no recovery after that,
well then I will have to consider that idea that wave [v] has already begun.

Tomorrow;
Watch for wave (b) to complete a three weave decline to a higher low by early Friday.