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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is following along the pattern for wave [a] up pretty well so far.
We have a correction today in wave ‘iv’ of (c).
This should lead to another pop higher tomorrow to break 1.1810 again.
At that point I will begin to look lower again into wave [b] over the coming few days.

Tomorrow;
Watch for wave (c) of [a] to complete and wave [b] to begin a three wave decline towards 1.1725 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is correcting in wave ‘ii’ of (iii) today.
This correction in wave ‘ii’ must hold above 1.3680 at wave (ii).
And then wave ‘iii’ should rally again towards 1.3878 at the next higher resistance level.
I suspect this rally in wave [c] will take the rest of this week and into next week to complete.

Tomorrow;
Watch for wave ‘iii’ of (iii) to push higher again after wave ‘ii’ is complete.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Todays move lower can be viewed as a correction in wave ‘ii’ of (iii).
But the price must hold above 109.40 from here out if this count is to remain valid.

IF this count is correct,
then we should see a sharp rally in wave ‘iii’ of (iii) of [iii] next week.
A break of 110.79 will confirm this count.

Monday;
Watch for wave (ii) to hold and wave ‘iii’ up to continue higher.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I have taken another look at the count today and I am now working on a more standard version of this wave ‘5’ count.
If we take a look at the 4hr count.
The overall pattern in wave ‘5’ blue is now counted as a standard impulse wave,
with wave [v] of ‘5’ forming an ending diagonal.

The hourly count expands that wave [v] ending diagonal.
You can see the three wave nature of each subdividing wave.
We are now moving higher in wave (v) of [v].
And this wave will trace out a three wave structure.
Wave’s ‘a’ and ‘b’ are in place,
and wave ‘c’ is expected to create a five wave pattern higher this week.

This pattern is pretty terminal also,
so this week is looking interesting in terms of wave ‘c’ of (v) of [v]# of ‘5’.

Tomorrow;
Watch for wave ‘2’ of ‘c’ to hold above 35165.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is cooling off last weeks rally today but this decline has not developed impulsively off the top yet.
I am still viewing this action as an expanded flat correction within wave [ii].
And wave (c) of [ii] should fall in five waves over this week.
If we hit a price of about 1750 this week,
then I will be turning uber bullish with a view towards wave [iii] of ‘1’ of (5).
And the next phase of this structure could very well be a sustained rally over the next few months.

Tomorrow;
Watch for wave (c) to fall in five waves towards the 1750 handle again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The price is holding up well today in crude,
and I am looking at this pop higher today as wave [b] of ‘2’ now.
It seems to be a three wave pattern so far.
So I will be looking for wave [c] of ‘2’ to begin tomorrow.

Tomorrow;
Watch for wave [c] to begin and fall in five waves back towards the 65.00 handle again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays rally has traced out a small five wave pattern off last Fridays lows.
This is interesting because todays high completes a five wave pattern off the wave ‘iv’ low in wave ‘v’ pink.
Which completes a five wave pattern off the wave (iv) low in wave (v) blue.
And you guessed it,
the whole lot completes five wave up in wave [v] green.

this goes on all the way up the chain now.
Five waves to be seen completed in this configuration at least.

The highs today have filled out a typical Elliott channel in wave (v) blue.
This is best viewed on the 4hr chart.

You can see also on the 4hr chart that I have reverted to the standard impulse wave count for wave (v) blue.
So,
what I can say here is that the patterns are complete as I read this setup.
And an impulsive move lower will add a lot of weight to this reading.
we will see on that front.

Tomorrow;
Watch for wave ‘v’ of (V) to top out and reverse the pattern with a five wave decline.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has not moved off the wave (iv) high in an impulsive manner yet.
But there is plenty of time this week to do just that.
the key level in terms of the main count is wave ‘b’ at 22.86.
A break of this level will signal the turn into wave (v) has begun.

Tomorrow;
Watch for wave (iv) to hold and wave ‘i’ of (v) to begin with a break of 23.39.