Hello all,

May the LORD of all creation Bless you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well EURUSD has done absolutely nothing this week to advance the patterns in play here.
This speaks to the idea that we have a consolidation and correction underway.
And so the wave [iv] label stands until we get a complete refusal of that pattern.

Tomorrow;
the market did create a higher low above the wave (v) label today,
so I view this as wave (c) now underway.
IF we push above the 1.1850 level again that will confirm wave (c) and we can expect wave [iv] to complete above 1.1880 again at a minimum.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have expanded the alternate count on the short term chart this evening.
This involves a larger wave ‘2’ in the red box.
And if this count is correct,
then the rally this week is wave [a] of ‘2’.

We should still expect a decline at least in wave [b] over the next few sessions as per the alternate count.

The main count is calling for a continuation lower into wave (iii) of [iii].
If the price does not fall impulsively over the next few sessions,
that will favor the alternate count for sure.

Tomorrow;
Watch for wave (ii) to complete and the initial impulsive decline into wave ‘i’ of (iii) to begin.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The action in the overnight trade and todays session has traced out a pretty clear correction within a trend channel.
I am looking at this as wave ‘iv’ of a larger wave (c).
Wave (c) should trace up five wave up and complete wave [ii] green.
It now looks like wave [ii] will complete an expanded flat correction.
And that will complete with a break of 110.70 again at the wave (a) high.

Tomorrow;
Watch for wave ‘v’ of (c) of [ii] to push above 110.70 and complete the correction.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has put in a double top all time high from the 10th of May into last week.
So we can say that for the last 2.5 months the market has really done nothing new in reality.
If the alternate count is correct,
then we will see a new high pretty soon as wave (iii) of [v] rallies again.

IT remains to be see though if that count is correct here.
The fact of the matter is that the market is hanging below the all time high and momentum has died today at a lower high.
Wave (ii) is still in play.
And an impulsive decline again tomorrow will add to the idea that wave (iii) is beginning.

Tomorrow;
Watch for that high to hold and wave (iii) down to begin with a bang.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is moving within the larger wave (ii) pattern again today.
the price is made a very slight new low in wave ‘b’ at 1792 again.
and the price has spiked higher again today in wave ‘c’ of (ii).
I do favor a break of 1824 again to comeplete wave (ii) and then a very sharp decline into wave (iii) down should get underway.

Tomorrow;
Wave ‘c’ of (ii) should complete tomorrow below 1834.
Watch for wave ‘i’ and ‘ii’ to create a lower high to begin wave (iii) early next week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil is defying gravity also today and I think we are now well into wave ‘5’ up.
The pattern is showing todays highs as wave [iii] of ‘5’.
Wave [iii] should reach a top below the wave [b] high and then correct for a few days in wave [iv] next week.
The final rally in wave [v] will break 76.50 again and that will do it for this pattern.

Tomorrow;
Watch for wave [iii] to top out tomorrow and begin a correction in wave [iv].
wave [iv] must hold above 67.60 at the wave [i] high again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The highs are begin threatened today,
but so far we do not have a break of that wave ‘5’ all time high yet.
I know this weeks rally has really pushed the limits of a corrective recovery to a lower high.
But so long as we see the top hold,
then I will consider the ending diagonal for wave (v) of [v] of ‘5’ as the correct count here.
I will go into the alternates in more detail tomorrow with the video,
but for now I am looking for a decline to begin in wave (iii) tomorrow.

Tomorrow;
Watch for wave ‘i’ of (iii) to push lower and for that all time high to hold.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave (ii) is making good progress today and we should see a top form to complete that wave tomorrow.
There is a reasonable three wave pattern higher now in place.
And wave ‘c’ of (ii) is approaching the 50% retracement level this evening.
That level lies at 25.58,
if we hit that level and then fall impuslivesly again,
that will signal wave (iii) down is underway.

Tomorrow;
Watch for wave (ii) to hit the 50% retracement level and then reverse into wave (iii) down.