Good evening to you all, and may the Lord bless you all tonight.

Here is the midweek update video for you if you can spare about 8mins!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Finally a move off the corrective lows of wave (b) today!
the action so far is impulsive looking so I think we will see a break above 1.1395 at the wave (a) high at least.
I would like to see wave (c) reach above the upper trend channel line at 1.1440 to complete wave [a].

Tomorrow;
Watch for wave ‘iii’ of (c) to continue higher and break that wave (a) high at a minimum.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The price did spike lower again today out of a completed triangle correction in wave ‘iv’.
Wave ‘v’ down was brief and again we have another spike higher off the lows to suggest the pattern in wave [i] is done.
If wave [i] is done,
then we should see a rally in wave (a) to break above 1,3379 at a minimum over the next few sessions.
Overall I am still looking for wave [ii] to push up to the 1.35 area again to complete three waves up.

Tomorrow;
the low at 1.3162 must hold first.
A break above the wave ‘iv’ high at 1.3260 again will be a good sign that wave (a) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY seems to be turning lower again off the session high at 113.96.
the trend channel is filled now,
and the price has failed at the previous fourth wave high,
so all signs are pointing lower into wave [iii] for the next few days.

Tomorrow;
Watch for wave (i) down to continue lower in five waves and break the 112.50 low again to confirm wave [iii] has begun.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am sticking with the bearish pattern in the DOW for the moment.
On balance I think the pattern fits an impulsive structure lower as shown in wave [i] and [ii].

The rally off the low of wave [i] is of course impressive this week.
But at the moment this rally has traced out a three wave structure higher and no more.
And that action still suggests a correction higher,
rather than a run to a new high.

If this lower high at wave [ii] holds this week,
and we see a decline in five waves again,
then wave [iii] down will be a real possibility next week.

Tomorrow;
Watch for the wave [ii] high to hold and for another five wave decline to begin in wave (i) of [iii].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The price action this week is leaning in favor of the alternate triangle wave [b] scenario now.
Even if this count is correct,
then I think we will see further declines into wave [c] down over the coming days to complete three waves down in wave ‘C’.
As long as the high at 1808 holds,
then it seems lower prices for gold are coming,
with the target area at about 1720 area.
that level marks the wave [b] low of the previous rally, seen on the 4hr count.

Tomorrow;
Watch for a drop below 1763 again to signal wave [c] is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Even though the rally in crude has been pretty substantial this week,
the action is still best described as a three wave pattern higher,
so the wave ‘4’ label fits well for the moment.

If this count is correct,
and we have reached the high of wave ‘4’ now.
Then this rally should give way soon to a decline again in wave ‘5’ over the coming few sessions.

Tomorrow;
Watch for a drop back below 70.00 again to begin wave ‘5’ down.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The rally in the S&P has almost retraced all of the recent decline.
And as far as the pattern off the low at wave ‘iv’,
I am reading this a five wave rally into wave ‘v’ of (v) again.
It seems like we have hit a correction today in wave ‘4’ of ‘v’.
So this rally could be close to giving up again once wave ‘5’ of ‘v’ completes.
Of course this pattern suggests a new all time high will be reached,
and possibly a top near the 4790 area.
That will close out the channel in wave (v),
and I will be looking for a reversal off that high to begin an impulse wave lower again.

Tomorrow;
Watch for wave ‘4’ of ‘v’ to complete a correction soon and then rally again to begin wave ‘5’ of ‘v’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is still trapped at the lows in what seems to be more a corrective move than a new impulse wave as shown.
the pattern is so close to that critical low at 21.40 now,
that if the price falls 22.03 again
it will be hard to defend that low and we will be facing invalidation of the bullish count.
I am willing to give the benefit of the doubt here to see if this pattern can develop into a five wave rally.
but I have to say,
I am holding my breath here for this bullish count.

Tomorrow;
Watch for a push above 22.60 again to see if this five wave pattern can continue.
22.03 must hold.