Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A three wave correction in wave [b] is still playing out today.
The action is slow for sure and there is nothing much to add to the count.
At the moment it looks as if wave (c) will only just break wave (a) at 1.1616.
And then I will look for a signal that wave [c] is about to begin.

Tomorrow;
Watch for wave (c) of [b] to final a low with a break of 1.1616.
If that level holds,
then I will be looking at a triangle for wave [b] instead.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The ‘i’ ‘ii’ pattern off the wave (iv) low is still holding this evening.
Wave ‘ii’ is now completing a correction above 1.3742.
If that level breaks then we will be looking at a larger pattern for wave (iv).
The main target still lies ahead for wave (v) at 1.3984.

Tomorrow;
watch for wave ‘iii’ of (v) to begin with a push above 1.3850.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is turning down again but the pattern has not traced out five waves down yet.
the action is a little too overlapping yet to get excited about,
but I think after that long rally in wave [c] of ‘B’,
we can give this next leg down into wave ‘C’ time to develop.

Tomorrow;
I am looking for a break of 113.19 again as an initial signal that wave (i) has begun.
A corrective lower high early next week will be a stronger signal that USDJPY has made the turn lower finally.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We have a very small correction today and the decline seems very small to suggest wave ‘4’ of ‘iii’ is finished yet.
The size of wave ‘2’ of ‘iii’ suggests that we should see a larger pattern in wave ‘4’.
The fact that the action was pretty weak today could be a hint that wave ‘4’ is going to trace out a triangle.
I will just have to see how this move develops before nailing a label on it!

There is a possibility that we have another ending diagonal scenario building here in wave [v].
Now that we are back working on wave [v] green again,
that scenario is a real option for the market.
That will take time to develop also,
but if the action remains undecided over the coming week,
then I will have another look at it.

Tomorrow;
Watch for wave ‘4’ of ‘iii’ to hold above 35000.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave ‘b’ seems to be topping out again today as the price basically stood still over the last 2 sessions.
The key level for wave (ii) stands at 1760 now,
And this becomes the initial target for wave ‘c’ of (ii).

tomorrow;
wave ‘c’ must begin to make headway lower now and I am looking for a a break of that 1760 level tomorrow.
This will set up nicely for a rally into wave (iii) next week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Here is another view on wave ‘5’ blue.
The action this week has been very hard to decipher in terms of a developing fifth wave.
and then we have a spike lower today which overlaps the high of wave [i] again.
This opens up the possibility of an ending diagonal in wave ‘5’.

This idea does explain the sideways action this week as you would expect a three wave rise in wave [iii] as shown.
The pattern should still produce a new high in wave [v] of ‘5’ over the coming few days.
So I am still looking up for now.

Tomorrow;
Watch for wave (a) of to rise into the upper trend line again to begin wave [v].

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The short term count shows both possibilities for the S&P now.
Another day without a new high leaves the door open for the bearish count.
But only just!

The alternate count for wave (v) blue is shown in red.
This count will create a new high in wave ‘iii’ before turning down into wave ‘iv’ next week.
Five waves up will top out in the area of 4600 again.

Tomorrow;
a break to a new high will confirm the alternate count in wave (v).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has cooled off today and so far I am counting this as the beginning of wave ‘iv’.
The price must hold above the wave ‘i’ high at 23.58 for this count to remain valid.
And I do want to see another push towards the 25.00 handle again to complete wave (iii) over the next few days.
At the moment I think we can allow at least another day for wave ‘iv’ to trace out a correction.

Tomorrow;
A break above 24.47 again will signal wave ‘v’ is underway.
Watch for wave ‘iv’ to complete above 23.58.