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.

EURUSD is making another attempt at finishing a fifth wave down today.
Wave ‘iii’ of (v) completed last night.
And now wave ‘iv’ may even be complete at todays high.
If so,
then wave ‘v’ of (v) down is now underway with a good chance that we will get below 1.1800 to complete wave [iii].
Then we can look for wave [iv] to turn up again in a corrective fashion over the coming days.

Tomorrow;
There is still a possibility that wave (v) will fill the channel with a break of 1.1700,
but I am not convinced of that given the action we have seen so far this week.

Watch for wave ‘v’ of (v) to complete with a drop under 1.1800.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has broken below the wave (iii) low at 1.3780 today.
The price has now hit the minimum target for wave (v) of [i],
but it looks like there is more downside left in the tank this evening.

I have labelled wave ‘iii’ of (v) completing this evening.
Wave ‘iv’ of (v) may be done at todays high,
and then this latest spike lower begins wave ‘v’ of (v).

The price will likely close out a larger five wave decline in wave [i] this week.
And that will leave open the possibility that wave [ii] will correct higher next week.

Tomorrow;
Watch for wave ‘v’ of (v) of [i] to push lower and break 1.3700 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘3’ of ‘iii’ has pushed higher in a nice impulsive looking move today.
The action is in line with the idea of a third of a third acceleration,
So we should expect this rally to continue for at least tomorrow as we work our way toward the target area above 112.00.
As long as the low at wave ‘2’ holds at 110.41,
then we are clear for a larger rally in wave ‘iii’, (iii) and wave [iii] as shown.
this could bring us to a top in wave [iii] green at about 115.00 when complete.
But that is a getting ahead of the game a bit.

Tomorrow;
Watch for 110.41 to continue to hold.
Wave ‘3’ of ‘iii’ should trace out five waves up towards 112.35 at the Fib extension line over the next few sessions.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is now well entrenched in that lower high resistance area of the wave [ii] high this week.
The market has managed to rally in wave ‘c’ of (ii) quite vigorously for sure,
but we have now failed to break above the previous high twice this week,
and if we fail again,
it may well be sayonara baby as wave (iii) down takes over.

The market is sitting just above the 76.6% retracement level of wave (i) now,
so this is about as high as we can go before the count is invalidated for sure.
So ideally,
I would like to wee a sharp reversal begin tomorrow in wave ‘i’ of (iii).

Tomorrow;
Wave (ii) must hold below 34840.
Wave ‘i’ of (iii) should break the wave ‘b’ low at 33739.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am moving back and forth between a few interpretation s in gold today.
The chart I have settled on tonight calls wave [iii] down complete.
And now we should see a correction higher in wave [iv] begin.

To be honest I am not entirely happy with this idea!
There is a reasonable chance that we are just moving within a more complete wave (iv) pattern all week.
And if that is the case,
then we will see a large drop in wave (v) of [iii] next week again.

For the moment I am just holding with the conservative position.

Tomorrow;
Watch for a three wave pattern to develop to the upside in wave [iv] green.
Wave (a) of [iv] may be complete at todays high.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

If we take a look at the daily chart first tonight.

I am tracking a five ave rally in wave [C] red.
The pattern is most likely topping in wave (5) of [C] at this point.
And the target for wave [C] lies at the wave [A] high at 76.60.
There price does not have to break that high,
but it seems likely now give todays rally.

This action will complete a three wave expanded flat correction in wave ‘b’.
And you know the story from there.

WAve (5) is now viewed as a normal impulse pattern rather than an expanding wedge.
And I am tracking this current high as wave ‘3’ of (5) of [C].

The hourly chart is showing the sharp move higher today as an acceleration in wave (iii) of [v].
And this pattern should complete early next week.
At that point I will look for a decline into wave ‘4’ of (5).

Tomorrow;
Watch for wave [v] to complete with a break of 76.70.
This will mean the pattern has achieved the minimum target for an expanded flat correction in wave ‘b’.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The market is hitting a new all time high this evening again,
all for a very good reason I’m sure!

The price action has been hugging the upper trend channel line in wave ‘c’ of ‘v’ for the last few sessions,
this fact should not inspire much confidence in anyone really.
And at this moment,
the trend channel is bounding the advance.
We have lost all upside momentum on the 4hr chart.
And we have a significant divergence building here again.
Wave ‘v’ of (v) has reached above the 100% of wave ‘v’ now.

But there is an upper target area at the 162% extension of wave ‘i’ at 4376.
That upper area is about as far as I can allow for this pattern.
If we don’t see any significant decline before that high,
then I will have to rethink what is happening here.

Tomorrow;
Lets see if the trend channel can stop this advance in wave ‘c’.
The price is slightly above that upper line now,
so this can qualify as a small throw-over here.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The pattern in wave (iv) developed into a more complex correction today.
The price broke out of the triangle and completed an expanded flat correction at todays high.
And now this evening we have a reversal off the high in a nice impulsive manner.
This action should now complete wave (iv) and get wave (v) underway.

Tomorrow;
watch for wave (v) to continue lower in five waves and I expect we will break the 25 handle to complete wave [iii].