Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Todays rise looks pretty corrective looking so far.
The ending diagonal pattern in wave (v) is still in place at the moment.
With todays top labelled wave ‘iv’ of (v).
Wave is expected to fall into that lower trend line again with a break of 1.1512 ata minimum.

This pattern will be ruled out if the price pushes above 1.1616 at wave ‘ii’.

Tomorrow;
Watch for wave ‘v’ of (v) to complete this pattern and then I will to look higher again to begin wave (E).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable rallied in three waves today and this action fits with the idea that wave [ii] is now underway.
Todays rise is in three waves so far,
so this move is labelled wave (a) of [ii].
I am looking for wave [ii] to rise into the area of the previous fourth wave at 1.3700 to complete.

Tomorrow;
Watch for wave (a) to top and wave (b) to create a higher low above 1.3423.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has just broken below 113.25 today and that confirms wave ‘c’ of (iv) is now underway.
Wave ‘c’ does not need to fall much more to complete this pattern,
but the price must hold above 112.07 at the wave (i) high,
if that level is broken it will invalidate this pattern for wave (iv) of [c].
And then I will have to consider the idea that wave [c] has already topped out at 114.68.

Tomorrow;
Watch for wave ‘c’ to complete above 112.07.
Wave (v) up will be confirmed with a break of 114.68 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am looking at the simple triangle pattern for wave [iv] tonight.
So the whole summers action is labelled as wave [iv] green now.
If we take this point of view,
then the pattern off that triangle low is a little less complicated.
We have a series of impulse waves higher which completed a higher low at wave ‘ii’ pink,
and then a rally in wave ‘iii’ into this current high.
This pattern suggests a sideways move over the coming few weeks as two fourth waves clear out.
Then wave (v) of [v] will push to a new all time high near Christmas.

I have not ruled out the idea that we are topping out a more narrow wave [v] now.
We do have a five wave pattern in place off the wave (ii) low.
And if we use a more complex pattern for wave [iv] that will project a top now for wave [v].
WE will be above to rule this pattern out soon enough of we don’t get an impulsive drop this week.

Tomorrow;
Watch for wave ‘ii’ to top out and then a corrective decline to take hold this week in wave ‘iv’ of (iii).

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has put in a strong rally over the last few days.
With a corrective decline giving way to a more impulsive looking rally.
The pattern in wave ‘i’ looks like a complete five waves up now,
and I am looking for a correction into wave ‘ii’ to take place this week.
The next resistance is sitting right above now at 1834.
And if we see a break of this high,
that will signal a possible third wave rally is underway.

Tomorrow;
Watch for wave ‘i’ to top out and then fall again into wave ‘ii’.
It is not necessary that 1834 break right now to complete wave ‘i’,
but a break above 1834 will really strengthen the bullish case again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil is on the verge of creating a five wave rally out of the wave ‘4’ low at 77.70.
Wave [i] of ‘5’ has almost retraced all of wave [c] at todays highs,
if we see a break of that wave [b] high at 82.60 again that will confirm that wave ‘5’ is underway.
the road ahead to a top for wave ‘5’ in the area of 90.00 again.

Tomorrow;
Watch for wave [i] of ‘5’ to complete a five wave rise near 82.60.
and then a three wave decline into wave [ii] should begin.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The trend lines are baring in on this rally now as the S&P moves to extend wave ‘v’ pink today.
Wave ‘4’ of ‘v’ seems to be tracing out three wave sdown off the recent high.
And I expect this will complete tomorrow,
then we are clear for a spike up in wave ‘5’ of ‘v’ to complete at least this pattern.
The potential for another variation to carry the market higher is always there,
and that depends on how you read the previous wave (iv) low.
For the moment I will deal with this count until it no longer fits the action.

Tomorrow;
Watch for wave ‘4’ of ‘v’ to close out a three wave correction at 4680.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is moving higher today in a possible wave ‘iii’ of (i).
The price is likely creating an extended wave ‘iii’ pink,
and as long as the high at 24.03 holds,
then wave (i) will be o track to create a clean five wave rally this week.

Tomorrow;
Watch for wave [ii] to hold at 23.00.
Wave (i) of [iii] should complete above 24.82 at the previous wave [i] high.
There should be enough time this week to complete a bullish impulse pattern higher at the wave (ii) low.
That will line up nicely for a rally in wave (iii) of [iii] next week.