Good evening folks I do hope that life treated you well today!

I am afraid I will have to keep the commentary short tonight as I have a visitor calling shortly.
We don’t get visitors often,
so it’s nice when it happens eh!

Ok here we go then.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is confirming a three wave move higher into wave [a] of ‘A’ again today.
The small correction in wave (b) held above 1.17,
and now we have a rally into the close to begin wave (c).
Wave (c) should trace out five waves up and possibly complete by tomorrow evening.

Tomorrow;
watch for wave (c) of [a] to top out at the previous fourth wave at 1.1805.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We have a small wave (ii) correction in place today at 1.3696.
The price has rallied nicely off that level and this should begin wave (iii) up.
Wave (iii) of [c] should break 1.3878 again in five waves.
And when that happens it will rule out the alternate count for wave ‘2’ completely.

Tomorrow;
Watch for wave (ii) to hold at 1.3696.
WAve (iii) should continue higher in five waves as shown.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has not confirmed wave ‘i’ of (iii) yet,
but we are almost there.
A break above 110.23 is required to consider wave (iii) underway.
The price must continue to hold above 109.40 as the weeks go on now.
And wave (iii) up should pull considerably higher next week if this count is correct.

Tomorrow;
Watch for wave (ii) to hold.
And wave ‘i’ of (iii) to break 110.23 at a minimum.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

If this is wave (ii) is play as the short term count suggests,
then we are really pushing the limits of the structure today.
The price did spike again today,
and that has completed a five wave pattern in a possible wave ‘c’ of (ii).
The price must turn down again tomorrow to stick with this count.

Tomorrow;
Watch for wave ‘c’ of (ii) to top out now and then we should see a sharp move lower to begin wave (iii) down tomorrow;

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

We never got that break of the 1831 level to confirm the bullish count today.
Instead,
Gold has dropped in a small five wave pattern today and that should be the beginning wave [ii] down.
I am looking for an overall 3,3,5 internal pattern in wave [ii].
So three waves down in (a).
And todays decline is wave ‘a’ of (a).

Tomorrow;
Watch for the high at 1809 to hold and wave (a) to continue lower in three waves.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave [v] of ‘1’ is pushing higher again this evening and we are getting close to that 69.41 high again at wave [b].
A break of that level will confirm the count for wave (5) and we can expect a rally to continue for at least a month as that wave closes out.

Tomorrow;
Watch for wave [v] of ‘1’ to top out soon,
possibly with a break of 69.40 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P manages another new all time high again today with the price skirting along that upper trend line of the ending diagonal.
If this pattern is correct here,
then we should see a sharp move lower in a five wave pattern to begin a turn off the highs.
There is also the chance that this top is only wave ‘a’ of ‘v’.
If so,
we will see a drop into the lower trend line in wave ‘b’ and then a rally again into wave ‘c’ to complete wave ‘v’ over the week or two.

Tomorrow;
Watch for wave ‘c’ of ‘v’ to create a top and then turn back down into the wedge again.
If we get a sharp move lower that will add weight to this count.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver dropped in three waves and the spike higher this evening has retraced much of yesterdays decline.
Wave ‘c’ of (iv) is almost complete now,
and once we see a break of that wave ‘a’ high at 24.04 it should open up the possibility for a turn into wave (v) again.

Tomorrow;
Watch for wave ‘c’ to top out and turn lower again in wave ‘i’ of (v).