Good evening again, what a day its been!

may the Lord bless you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is slowly stepping higher again today to begin wave (iii) up.
I have labelled todays higher low as wave ‘i’ and ‘ii’ of (iii).
A rally back above the wave (i) high at 1.1382 will signal that wave (iii) of [a] is underway.
Wave (iii) should break above 1.1500 again.

Tomorrow;
Watch for wave ‘ii’ to hold above 112.35.
Wave ‘iii’ of (iii) should break 1.1382 tomorrow.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We have a possible higher low in place in Cable tonight also.
I am following a three wave pattern higher in wave (a) of [ii] now.
Wave ‘a’ and ‘b’ are in place at todays higher low.
This calls for a rally into wave ‘c’ to break 1.3371 and complete three waves up in wave (a).

Tomorrow;
Watch for wave ‘b’ to hold above the low at wave [i].
And wave ‘c’ to turn higher again to break 1.3371 at a minimum.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The decline today has traced out a three wave pattern off the wave [ii] high.
This action suggests a correction lower in wave ‘b’ of (ii) at todays lows.
And if that is correct,
then we will see another rally in wave ‘c’ to complete wave (ii) below 113.96.
Wave (iii) down will then take over by Friday.

If the price accelerates lower to break 112.53 again overnight.
That will signal wave (iii) has already begun.

Tomorrow;
Watch for wave (ii) to complete by tomorrow evening.
Wave (iii) down should take up the next few trading days after that.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Another day, another step lower into wave [i] down.
In fact I think we have enough internal waves complete now to suggest wave [i] down is nearing an end.

I have labelled the sharp drop into the low as wave (v) of [i].
the price has broken to a new low now so wave (v) has reached its minimum target.

The now question is what comes next.
IF this decline into wave [i] is correct,
then we can expect a lower high to build over the coming days in wave [ii].
The two previous fourth waves provide a target range between 35000 and 35300.

Tomorrow;
Watch for wave (v) to find a low pretty soon,
the previous wave (i) low at 33850 should offer support.
Wave [ii] may even begin by tomorrow evening.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is hanging in the balance tonight and the further we travel into this week,
the more unlikely the main bullish count is becoming.
I think it is safe to say that the price is veering towards the alternate count now.
And once we get a break of 1758 again that will signal wave [c] of ‘C’ if underway.

Tomorrow;
Watch for a possible decline in wave ‘iii’ of (iii) of [c].

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The pattern has moved in favor of an extended wave ‘3’ down now.
A series of fourth and fifth waves are in place now.
And once we see a break to a new low in wave [v] that should be enough to complete wave ‘3’.
This pattern suggests a corrective rally is coming our way in wave ‘4’ next week.
This will probably coincide with a rally in stocks in a second wave.
So things are lining up here again.

Tomorrow;
Watch for wave [v] of ‘3’ to break 64.00 again to complete.
Wave ‘4’ will likely push towards 70.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Things are starting to get exciting in stocks now,
I really do think we are moving towards that bearish long term view with some confidence.
Of course I will have to wait for confirmation,
but step by step we are getting there.

I am not quite sure if this decline is wave ‘iii’ of (iii) or a larger wave (ii) will result from this.
The sharp acceleration lower is surely fitting with a third of a third scenario.
In that case the price will have to hold below 4550 over the coming days.

Tomorrow;
Watch for wave ‘iii’ to complete.
A correction higher from that point will signal wave ‘iv’ of (iii) is underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am starting to get worried about this bullish count in silver now.
The expanded flat correction in wave [ii] is still valid,
but the decline in wave (c) of [ii] has reached a point where it is threatening the invalidation level at 21.40.
We are not there yet,
but that level simply must hold or silver is at risk of tumbling back down to the 18 handle again as per the alternate count.

Tomorrow;
Watch for wave (c) of [ii] to complete above 21.40.