Good evening folks, may the Lord Bless you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is holding above that wave (b) low so far,
and is making its way higher in wave (c) today.
The price has created a higher low in wave ‘ii’ of (c).
And as long as that wave (b) low holds at 1.1726,
then we should see a five wave pattern higher complete i wave (c) by Monday at the latest.

Tomorrow;
Watch for 1.1726 to hold.
A break of that level will suggest wave (B) is still in force.
1.1805 is the minimum target for wave (c).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The start of wave (iii) has been delayed today as the price has pipped below 1.3696 again today.
This action is viewed as wave (ii) still in force.
And once wave (ii) finds a low tomorrow,
then we should see a rally back above 1.3770 at the wave (i) high.
Wave (ii) must hold above 1.3602 at the very lower end.

Tomorrow;
I suspect wave (iii) will begin tomorrow.
So watch for a reversal higher into wave ‘i’ of (iii) again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is correcting just below 110.23 again today.
This level marks the high of wave (i).
I am expecting wave ‘i’ of (iii) to complete above this level,
and when that happens it will signal wave (iii) is underway.

Tomorrow;
It looks like we will now have to wait until next week for any acceleration higher in a third of a third wave.
Wave ‘i’ should complete tomorrow,
and then wave ‘ii’ will correct to a higher low above 109.40.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

There has been a little respite in the action today so for the moment at least I can hold onto the (i) (ii) count off the high.
This decline simply must continue and accelerate in the days ahead to confirm a third wave down as shown.
If we get a decline below 34560 over the coming days,
then we will be in business again for this wave (iii) count.

Tomorrow;
Wave ‘i’ of (iii) must fall in five wave now.
I would like to see a drop back below 35000 to complete wave ‘i’.
Then we can look for another corrective rally in wave ‘ii’ early next week.

For the time being,
watch for a possible five wave decline in wave ‘i’ of (iii).

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold did spike higher today but at this moment the price is still holding below the wave [i] high at 1809.
A do want to see a break of 1776 again tomorrow to confirm this decline as wave (a) of [ii].

So far we have wave ‘a’ and ‘b’ of (a) in place,
wave ‘c’ down should drop below 1776 at a minimum.

If this short term count is correct then the price will likely just drift sideways as wave (a) and (b) completes.
Wave (c) down will do the main damage in wave [ii].
and that should push the price down possibly as far as 1717 again.
We will see when the time comes.

Tomorrow;
1809 must hold.
Wave ‘c’ down should break 1776 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is correcting today but it is hard to be sure if this action is still part of wave ‘1’,
or if wave ‘2’ is underway now.
I am suggesting the latter this evening but that still must be confirmed.

If this decline is wave [a] of ‘2’,
then we should see a stronger push into the 66.00 handle again tomorrow.
Another drop will complete three waves down in wave [a].

While the larger wave ‘2’ should fall towards 64.33 again at the 61.8% retracement level.

Tomorrow;
Watch for wave [a] to complete with a drop back into the 66.00 handle again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

At least this evening we can say that the upper trend line of the diagonal is forming some resistance in the pattern.
The drop off the highs today is nothing to write home about,
but it did pull the price back into that previous Fibonacci target range again.
We will definitely need more downside to signal a possible topping pattern again.

I have shown the alternate count for wave ‘v’ that I wrote about last night.
This involves a larger three wave structure.
With this decline labelled wave ‘b’ of ‘v’.

Tomorrow;
If this decline only falls into the lower trend line over the coming days,
then we are looking at the alternate wave ‘v’ scenario.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

With silver I still prefer the main count that calls for a drop into the 21.00 area to complete wave [2].
But after a few days of corrective action that has not made much downside progress,
I am actively considering the alternate count again tonight.

If this decline is actually a second wave correction to begin wave (iii).
Then the price will hold above 22.86 as wave ‘ii’ of (iii) completes tomorrow.
And wave ‘iii’ of (iii) will accelerate higher beginning next week.

Tomorrow;
As for the main count,
a drop below that all important 22.86 level again will confirm wave (v) of [v] is underway.

Watch for that high at 23.94 to hold and wave (v) down to take over.