Good evening to one and all,

I pray the Blessings of Messiah Yeshua to you all again tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Nothing to report in EURUSD today as the correction in wave (iv) has held onto the action into the overnight high.
If wave (iv) is complete at that high,
then we may have a start to the final wave (v) down now in play off that high.
The trend channel is pointing to the area around 1.1450 to complete wave (v).
Ideally we will see and end to wave (D) this week and we can look higher again towards that 1.22 level in wave (E).

Tomorrow;
Watch for wave (iv) to hold at 1.1586.
WAve (v) must break below 1.1528 at a minimum.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has pipped above the 50% retracement level at 1.3660 today.
The pattern is not ideal in wave ‘c’ of (ii),
but so far we have a small drop off that level to begin a possible wave (iii) down.
the price must begin to accelerate lower tomorrow in wave ‘i’ of (iii).
And I want to see a break of that wave (i) low at 1.3410 in wave ‘i’.
This will provide the type of extension in the pattern in wave (iii) that I am looking for.

Tomorrow;
Watch for wave (ii) to hold at 1.3673.
Wave ‘i’ needs to fall again in a five wave pattern from here.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am looking at a clear five wave pattern now developing in wave (v) of [c] after todays rapid move higher.
The price is now about to tag the upper trend channel line in wave ‘iii’ of (v),
A correction is expected in wave ‘iv’ by tomorrow.
So I suspect we will see a three wave decline falling back into the 112.50 area by the middle of the week.
There is a good chance that wave (v) of [c] will have enough time to complete this week also.

Tomorrow;
Watch for wave ‘iii’ to complete near that upper trend line again and wave ‘iv’ will
to fall back in three waves beginning tomorrow.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The action in the Dow over the last few days looks pretty corrective so far.
There is no clear sign that wave (c) is complete yet off that recent high.
In fact wave (c) is now taking the form of an ending diagonal pattern.

So I will continue working on wave (c) up until proved wrong.
In that case the alternate count will take charge again.

Tomorrow;
The correction in wave ‘iv’ of (c) is tracing out a pretty standard flat correction.
And that should complete with a touch of that lower trend channel line again.
Wave ‘v’ should top out at 35100 again if this count is correct.

A break of 33800 again will favor the alternate count and we can the look to a larger decline in wave [iii].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

If the pattern in gold is correct here,
then I think we are sitting at a pretty bullish point in the structure.
A higher low at wave (ii) will make way for an acceleration higher in wave (iii) of [iii] over the coming weeks.
So as long as the low at 1721 holds,
then gold is clearly in the early stages of an uptrend here.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete with a break of 1745.
A push above 1770 again will signal wave ‘i’ of (iii) has begun.

1721 must hold for wave (ii) to remain valid.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

This count may be a little tight in terms of the size of the waves.
But I have to admit that the action over the last few days does fit a completed impulse pattern now.
The size of wave ‘4’ is relatively small in terms of wave ‘3’,
but the rally off wave ‘4’ has filled out the trend channel in five waves also.
So at the moment,
there is a possibility that this whole rally in wave (5) of [C] is complete.
This count really depends on the reaction off this top that develops over the next few days.
I sharp move lower that breaks wave ‘4’ again will favor the idea of a top in place.

Tomorrow;
Watch for an impulsive looking decline to develop tomorrow.
If the decline proves to be corrective,
that will signal wave ‘5’ is going to extend higher as shown in the alternate count now.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

In an ideal scenario the top is already in for wave (ii) at last weeks high.
The only alternate now is for a further rally to break above 4482 again to trigger the alternate count.
The pattern off the top of wave (ii) is not ideal,
and that is the real stumbling block now.
If the market does continue lower tomorrow and breaks 4270 again,
that will favor the bearish count here and then I could rule out this alternate count for wave [ii].

So at the moment,
we are sitting at a bit of a crossroads for the bearish count.
A sharp drop tomorrow will signal a move into wave ‘i’ of (iii),
and we can expect more downside over the coming weeks.

Tomorrow;
Watch for wave (ii) to hold,
wave ‘i’ of (iii) must continue lower in five waves now.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is moving on with wave (ii) as expected today.
The price seems to have completed a three wave running flat correction in wave ‘b’ today.
The price should continue lower towards 22.30 again over the coming few days.
That will complete three waves down,
and then I will look for a reversal higher to signal wave (iii) has begun.

Tomorrow;
Watch for the low at wave [2] to hold at 21.40.
Wave ‘c’ of (ii) should complete tomorrow.