Good evening lads and ladies,

I pray the Blessings of Messiah Yeshua over you all tonight.

It was the day of the bounce!

Well, lets see where that puts us in the pattern.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is still flirting with invalidating the pattern in wave (E) today.
The price is holding at the lows just above 1.1700,
and if we see a move below 1.1664 again that will rule out this wave count in wave (E).
At that point I will have to view the latest action as part of the decline in wave ‘C’ of (D) again.

Tomorrow;
back to the short term count!
If wave ‘B’ holds at 1.1699 and we see the price continue higher step by step,
then I will be more comfortable about calling wave ‘C’ underway.

1.1664 must hold.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable did make a very slight new low with a break of the wave ‘iii’ low at 1.3640.
It is possible that wave (i) is now done here,
if that is the case,
wave (ii) should now begin over the next few days
and complete a three wave correction to a lower high somewhere about 1.3800 again.

Tomorrow;
Watch for wave ‘v’ of (i) to complete and then turn higher into wave ‘a’ of (ii).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have fleshed out the alternate count a little more on the main chart tonight.
The price is so very close to breaking below the invalidation line at 109.10 now,
that I think it is worth considering that alternate count with a bit more seriousness.

Firstly,
a break of 109.10 will trigger this count.
That will mean wave [i] of ‘C’ of (2) is underway.
Wave [ii] of ‘C’ should hold below 110.07.
And then wave [iii] of ‘C’ should fall into the 108 handle again.

Tomorrow;
A break above 110.07 again will favor the main count,
but the odds of this happening are really low right now.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We did see a rebound today as suggested by last nights count for wave (iv) of [i].
It is very hard to know if the rally today is all of wave (iv) now in place,
or if the structure will develop into a larger more complex wave.
We will see soon enough.

So far the market has held below the wave (i) low.
And as long as that low remains in place,
then this bearish count remains valid.

The market has dropped off the session high today and I am counting this as wave ‘i’ of (v) now underway.
Wave (v) should head lower again tomorrow, and break to a new low near 33500 again.
That will complete five waves down off the top.
And then it will be time to look for a corrective lower high in wave [ii].

Tomorrow;
Watch for wave (iv) to hold at todays high and wave (v) to continue lower in a five wave pattern.

We are still in the building stage here for a much bigger move lower to begin early next month I suspect.
So there is time to just let this pattern develop and to see what it tells us regarding a possible third wave down crash.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold may be finally turning higher again today in an impulsive manner to begin wave [iii].
So far we only have three waves up off the low,
We need to see a clear five wave pattern here to be confident of a turn higher at a larger degree.
Right now I am looking for another 5/3 rally to form a higher low in wave (ii).
That will open the way up for a rally in wave (iii) of [iii] by next week I suspect.

The ducks are lining up pretty well here now,
so lets see if we get that five wave rally in wave (i) over the next few sessions.

Tomorrow;
Wave ‘iii’ up should hold up above 1780.
Any correction in wave ‘iv’ must not break the wave ‘i’ high at 1767.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has refused to rally into a third wave up this week.
At the moment my best guess is that wave [ii] is still holding onto the action this week.
And wave [iii] up should begin with a push up into the 72 handle again possibly tomorrow.

Tomorrow;
the bullish count holds as long as 67.40 holds.
Watch for wave (i) of [iii] to begin soon.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

We have a bounce today and I am calling this wave (iv) of [i] at the moment.
I have to admit that the rally was quite sharp to the upside,
so I have to remain open to be wrong on this!

The decline this afternoon is welcome in terms of the overall count.
And If wave (v) is now underway this evening,
then we should see another drop below the wave (iii) low tomorrow.
Wave (v) should fall below 4300 again to complete a five wave pattern off the all time high.

Tomorrow;
Watch for the wave (i) low to hold at 4434.
Wave (v) must now turn lower and break 4300 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The pattern higher this week is looking more corrective as each day passes.
We have a three wave pattern in place now and a trend channel filled at todays highs.

I view this move as wave (iv) of [v],
and that suggests another drop towards the 21.00 area again in wave (v).
Wave (v) should begin very soon.
A break of 22.00 again will signal wave (v) is underway.

Tomorrow;
Watch for wave ‘i’ of (v) to fall back into the 22.00 area again.
That will confirm wave (v) is underway.