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

A bit early on the update tonight as my little 2yr old is a bit ill since last night. May need to head to the hospital later, but hopefully not eh!

on with the show.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has topped out in wave [a] today at 1.1844.
The pattern is a reasonable three wave pattern into todays high,
and now we have a spike lower to begin a possible wave [b] down.
Wave [b] should fall in three waves over the next few days.
And I am looking for a drop into the 1.1725 area at the previous wave (b) low.

Tomorrow;
Watch for wave [b] to continue lower in three waves as shown.
The wave [a] high should hold at 1.1844.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable seems to be stuck in a corrective sideways move in wave ‘ii’ pink.
The action this week is corrective so far,
and the pattern in wave ‘ii’ is tracing out a possible expanded flat.
Once complete this should give way to a rally in wave ‘iii’ of (iii).

Tomorrow;
The low at wave (ii) must hold at 1.3680.
Wave ‘ii’ must complete above that level.
Wave (iii) up is expected to rally into the 1.3870 area at wave (b).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The pattern in USDJPY has developed further today
and we now see a three wave correction in wave ‘ii’ which has held above 109.40 at wave (ii).
The price has spiked higher off that higher low and this should begin a rally in wave ‘iii’ of (iii) over the coming days.
Wave ‘i’ now lies at 110.26.
A break of the wave ‘i’ high will signal wave ‘iii’ up has begun.

Tomorrow;
Watch for wave ‘ii’ to hold above 109.40.
Wave ‘iii’ must now begin to make progress higher to confirm the short term count.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market put in a possible wave ‘2’ higher low above 35165 today.
this is an indication that wave ‘c’ is now underway and we should see a five wave rally in wave ‘c’ over the next few days.
Wave ‘3’ of ‘c’ should push to a new high tomorrow.
and overall the rally in wave ‘c’ is likely to hit the upper trend line of this ending diagonal when complete.

Tomorrow;
Watch for wave ‘b’ to hold.
A rally in wave ‘3’ of ‘c’ to begin tomorrow and push to a new high.

A break of that low at 35165 again will raise the possibility that wave ‘c’ is complete.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has regained much of the decline that happened overnight,
and the action now looks corrective off Mondays highs.

There is a possibility that this is wave (i) of [iii] already underway,
but I dont like the depth of the decline in the alternate wave [ii] is that is the case.
I have shown this alternate count in red tonight.

Tomorrow;
I still prefer a larger decline into wave (c) of [ii] over the coming days.
The minimum target on that count is for wave (c) to fall below 1779.

Lets see if we get a new high tomorrow to lean the count in favor of that alternate view.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil is flat today also and it is unclear if wave [c] down has begun yet.
I will have to wait and see if wave [b] makes a new high tomorrow to signal a possible expanded flat correction in wave ‘2’.

Tomorrow;
Watch for wave [c] to push lower and break 67.60 again at the wave [a] low.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A five wave pattern to the new all time high in wave ‘v’ pink is holding today at least.
The price has broken above that upper trend channel line at the top,
and now the market has fallen slightly off the high back into the trend channel this evening.
I cant read much into this at the moment.
Apart from the idea that we may have a completed pattern on our hands here.
If that is true,
then we should see an impulsive decline off the high before the end of the week.

Tomorrow;
Watch for an impulsive decline to begin off the final top of wave ‘v’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver fell today off 24.19 and this has opened up the possibility of a completed pattern in wave (iv).
But now we need some action to the downside to confirm that idea.
The key level here lies at 22.86,
so I want to see a decline below that level to confirm that wave (v) has begun.

Tomorrow;
Watch for wave (iv) to hold at 24.19.
Wave (v) down must now continue lower tomorrow and break that initial support at 22.86.

A break of 23.33 again will favor the main count.