Good evening folks, I pray the Blessings of the Lord of Hosts over you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The price is holding above the wave ‘B’ low today and the price seems to be forming a three wave correction in wave [ii] also.
The action has not confirmed the rally in wave ‘C’ yet,
but as long as we see the low at wave ‘B’ hold,
then wave ‘C’ is in play.

Tomorrow;
Watch for wave ‘B’ to hold at 1.1770.
A break above 1.1850 again will signal wave [iii] of ‘C’ is underway.

In this scenario,
we must see an acceleration higher into wave [iii].
If the price breaks above 1.1850 then we should look at the minimum target for wave ‘C’ at 1.1908.

the 50% retracement of wave (D) lies at 1.1964.
That area is the main target for wave (E).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We have a small impulse wave lower now in place off the high.
I have labelled this pattern as the initial ‘i’ ‘ii’ to begin wave (i) down.
And if this count is correct here,
that suggests wave [iii] down is now underway and we can expect a continued decline over the coming weeks.

Tomorrow;
Wave ‘ii’ must hold below 1.3911.
Wave ‘iii’ of (i) down fall into 1.3725.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave (c) down is tracing out a clear five wave pattern lower.
Todays low marks the end of wave ‘iii’ of (c),
and wave ‘iii’ has a nice five wave pattern complete also.
The larger wave (C) requires one more correction and drop to complete five waves down and there should be enough time this week to finish this correction.

Tomorrow;
Watch for wave ‘iv’ of (c) to complete below 109.61.
wave ‘v’ must hold above 108.71,
so there is a tight margin for error here.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

As this decline has developed today it has got increasingly more choppy and overlapping in nature.
this action does worry me a little and for that reason I have not forgotten about the alternate count for wave (iv).
If the rally off todays lows extends back above 35200 again,
then I think I will switch to that alternate count again.

Tomorrow;
So far today I am looking at an expanded flat wave (ii).
With todays rally forming wave ‘c’ of (ii).
I expect wave ‘c’ will break 35020 again to complete the correction and then I will look for a reversal down into wave (iii) again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is drifting lower this evening and the prospect of a decline into wave (c) is now looking good again.
The key level now for wave (c) lies at 1779 at the wave ‘b’ low.
If we break that then I think its next stop 1750 again.
A five wave decline into 1750 will complete a very bullish pattern at wave [ii] green.
And then I think I can finally switch to the full on bullish mode again,
as we look for wave [iii] up to get underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Another spike higher today has pushed the wave count in favor of the idea that wave ‘2’ is done at the recent lows.
If we are watching wave ‘3’ of (5) now underway,
then we should see a rally back up towards the 75.00 handle again in wave [iii] of ‘3’.
Wave ‘3’ itself should push u]out to a new 3 year high above 76.00 again in the next week or so.

Tomorrow;
The low at wave [ii] should hold at 69.75.
WAve [iii] up will break above 73.93 again at the recent highs.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays rally does complicate the bearish picture now in wave (i) down.
As the decline has developed we see overlap after overlap even into today.

The only way I can count an impulsive pattern into that low is if wave (i) is a wedge pattern.
Wave (ii) can be read as an expanded flat correction.
And if that is the case,
then wave (ii) should complete tomorrow,
and wave (iii) down should return lower before the end of this week.

Tomorrow;
Watch for wave (ii) to complete with a break of 4488 again.
Wave (iii) down must begin before Fridays close with a drop back below 4430 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The price action is really going nowhere this week in silver.
And as such I cant really add much to the counts.
The rise off this weeks lows does look to be a three wave pattern.
and if that is correct,
then we will see another drop towards the 22.00 handle again as per the alternate count.

I am willing to just wait and see where this goes tomorrow before making any judgements between both counts.

Tomorrow;
A break of 23.37 again will trigger this alternate count.