Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The action in EURUSD is definitely a lesson patience these days.
The price keeps taking out previous lows by a matter of pips,
and invalidating count after count along the way.

Todays new low suggests wave (v) has yet to bottom.
It is possible that wave (v) will now fill the trend channel before completing.
and in that scenario the price will hit the low 1.14 handle before turning higher.

I still think we are bottoming here in wave (D),
but the final low is taking its sweet time.

Tomorrow;
Watch for wave (v) to create a five wave decline towards that lower trend line at 1.1400.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

cable has now traced out a five wave pattern to the downside in wave [i] green as shown.
This action suggests a larger decline phase is now about to begin in wave ‘3’.
Todays decline is not quite done just yet,
it is possible that wave [i] will retrace all of the previous rally in wave [c].
We are close enough to a low now to look for a low soon,
and then consider wave [ii] next week.

Tomorrow;
WAtch for wave [i] to complete near the previous low at 1.3418.
Wave [ii] will probably rally into the 1.37 area in three waves next week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Much like EURUSD, USDJPY just keeps ruling out wave count after wave count these days.
Today is no exception.
The correction off 114.68 is now taking the form of a triangle as shown,
The price must hold above the 113.25 low to remain valid.
And if we see a break above 114.28 again, that will signal wave (v) is underway.

Tomorrow;
watch for wave ‘e’ of (iv) to hold at 113.50.
Wave ‘i’ of (v) should break 114.28.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

As I mentioned yesterday,
this version of the wave count is now pretty much complete.
And if we don’t see an impulsive decline from here over the next few sessions,
then I will have to switch to another count for wave [v] green.

Very little can be read into todays action apart from the possibility of a top for wave ‘v’ of (v) at the high.
The market has only drifted lower today with out any impulsive thrust to suggest a top here.
We will see tomorrow if that sign can come our way.

Tomorrow;
Watch for wave (v) to close out and then reverse lower to break the wave (iv) low at 35500 again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Now this is where the test begins for gold.
the price bounced today out of that 1760 low at wave (ii).
This is a vote in favor of the bullish count for sure,
but the pattern is now lined up for a larger third of third wave up,
and now gold must deliver a serious rally to confirm the bullish longer term count.

Tomorrow;
Watch for wave ‘i’ of (iii) to push higher to break above 1813.
That level marks the first hurdle to the bullish count.
Wave ‘iii’ of (iii) of [iii] must break above 1835 to confirm this setup.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Todays trade started off so well with a nice rally up off the lower trend channel line.
This evening was a different story altogether!

The price was hit with a big wave of selling and now the price has broken below 79.00 again.
I am still viewing this action as a three wave correction in wave ‘4’,
and wave ‘5’ up is projected to rally back above 85.00 again when this wave ‘4’ completes.

Tomorrow;
Wave ‘4’ must find a low soon to confirm this move as a correction rather than a new impulsive wave down.
Watch for a spike higher in wave [i] of ‘5’ to begin tomorrow.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

‘Thin ice’ is the phrase that comes to mind tonight as wave ‘v’ of (v) extends to an even greater extent.
The pattern in wave ‘v’ is viewed a little different now,
with wave ‘1’ and ‘3’ creating clear five wave patterns into todays high.
This pattern will allow for a drop in wave ‘4’,
followed by a rally in wave ‘5’.
That will close the door on this pattern also.

Tomorrow;
Watch for wave ‘4’ and ‘5’ to complete wave ‘v’ in the next session or 2.
Wave ‘iv’ marks the initial support to this pattern,
so a break of 4551 again will signal a possible turning point is opening up again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has put in a good day today and we are now moving towards confirming the bullish pattern again.
The price has traced out a small five wave rally higher today in wave ‘i’ of (i) of [iii].
Wave ‘ii’ should form a higher low tomorrow,
and then wave ‘iii’ of (i) should push back above 24.60 again.

Tomorrow;
Watch for wave [ii] to hold at 23.00.
That level must not be broken now from here on out.

Wave (i) is expected to break above 24.82 next week.