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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Todays spike lower has broken the invalidation level for last nights count at 1.1770.
I have not changed my mind on the overall pattern yet for wave (E).
It still seems likely that we see a three wave pattern higher to complete the triangle at about 1.1960 or there about.
But now we must find a solid low for wave ‘B’ tomorrow above 1.1664.
and then wave ‘C’ has got to turn higher pretty soon to avoid invalidating the whole pattern in wave (E).

Tomorrow;
Watch for wave [c] of ‘B’ to complete at about 1.1700.
A break above 1.1830 again will signal wave ‘C’ has begun.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has not broken the low of wave (b) at 1.3725 yet which is concerning me a little.
A break of this level after a five wave decline will really boost the current wave count.

I would like to see this happen tomorrow in order to stick with this short term count.
Then I can look for a three wave recovery to begin in wave (ii) early next week.

Tomorrow;
Watch for wave (i) and (ii) to complete an impulse wave down over the next two sessions.
Wave (i) should complete tomorrow with a break of support at 1.3725.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The overnight low broke 109.11 at wave (a) by 2 pips!
This is not much for sure,
but the sharp spike higher that happened off that low is a hint that the correction may be over now for wave [ii].
I want to see a nice five wave pattern higher off the low at wave [ii].
Todays move higher is labelled as wave ‘i’ of (i) of [iii] now developing.

Tomorrow;
Watch for wave [ii] to hold at 109.09.
Wave ‘i’ should complete five waves up by tomorrow evening.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The action today can be viewed as a possible running flat correction in wave (ii) complete at todays highs.
I was hoping for a more conventional corrective pattern to add weight to the idea that the top has formed in wave ‘5’.
Of course if we see an acceleration lower tomorrow into wave (iii),
that should be enough to call a top with a little more confidence.

At the moment there are a some stumbling blocks in this pattern.
The recent high at wave ‘5’ was formed with a failed fifth wave in wave (v) of [v].
This is concerning, I will admit that!
The alternate count for wave (iv) is still a valid option here,
so I will be watching for a follow through to the downside tomorrow to rule out the alternate count.

Tomorrow;
Watch for wave (ii) to hold at todays high.
If the price falls back out of the trend channel again I will take that as a signal that wave (iii) down is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Well it looks like wave (c) of [ii] is almost there now after todays sharp decline.
I am looking for a clear five wave pattern in wave (c) to form before calling wave [ii] complete.
But we are close to a significant low now,
and that is very interesting.

Tomorrow;
Ideally, wave (c) of [ii] should complete a five wave decline as shown.
So watch for wave ‘iv’ and ‘v’ to drop once more to finish the pattern.
A rally back above 1780 again will signal wave (i) of [iii] is starting.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has regained most of the decline today which suggests this was a correction within wave [iii] up.
Wave [iii] should trace out a nice five wave pattern,
and I want to see a break above 74.00 for wave [iii] to complete.
Todays low can be labelled wave (iv) of [iii],
and that suggests another rally tomorrow towards that target 74 level in wave (v).

Tomorrow;
Watch for wave (iv) to hold at todays lows.
Wave (v) should remain in control for at least tomorrow session.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

This evening I am a little more positive towards the short term action.
Positive in a bearish sense that is!

After todays sideways shuffle to nowhere I am looking at a flat correction wave (ii) as shown.
Wave ‘c’ should push a little higher tomorrow for this count to remain valid.
I am looking at the 4493 area as a possible area for wave (ii) to complete.
This level has formed a nice pivot point within the structure of wave (i) down.
And it is almost bang the 50% retracement line also.
So I would like to see wave ‘c’ hit that level and then watch for a reversal pattern down into wave (iii).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays action has confirmed the bearish count that I have been harping on about over the last few days.
That vertical decline fits the bill for wave (iii) of [v] now,
and I think WE can expect to see a fall into the next support area at 21.00 again.
Ideally I want to see a five wave pattern trace out over the coming week into that target area.
Wave [v] should break 21.60 at a minimum to complete wave (C) and wave [2].
Then I will begin to looking higher in a big way for wave [3] up.
And that wave has real potential.

Tomorrow;
Watch for wave (i) to hold at 23.37.
Wave (iii) should fall further towards 22.00 to complete.