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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I will admit that this pattern is starting to fail now.
It seems rather stretched in wave (b),
and although the price has created a slight higher low this week,
the price as failed to accelerate into wave (c) as expected.

There is no real contender for an alternate count at the moment,
so unless something really obvious happens over the coming few sessions to push the price into another pattern,
then Im afraid I am stuck in this limbo of waiting for a rally in wave (c)!

Tomorrow;
As long as the price holds above 1.1221 then this pattern is valid.
I would like to see a break above 1.1361 again to confirm wave ‘iii’ as shown.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A similar situation for cable tonight,
the price is moving higher off Mondays lows at 1.3173,
but without an acceleration and a break of 1.3375 I just can’t confirm this wave count yet.
I do think a correction higher in wave [ii] is well overdue and so I am willing to stick with this outlook for now.

Tomorrow;
Watch for wave (c) to continue higher and break above the wave (a) high at 1.3375 again to confirm the pattern.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Last nights count came close to invalidation with a further spike higher today.
I have shown another possible alternate for wave [ii] tonight.
It is a similar pattern for wave [ii] in the fact that it is a triple combination wave.
But now wave (b) of [ii] is shown as an expanded flat.

Tomorrow;
Wave [ii] should still top out tomorrow and then reverse into wave [iii] by next week.
Wave [iii] will be confirmed with a break below 112.53 again.
However if we see a drop below 113.13 at wave (b) that is a good sign that the pattern has turned lower into wave [iii].

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A larger than expected rally today has invalidated last nights count and lowered the probability of wave [iii] down now.
The bearish count is still my favored outlook here,
and todays lower high is labelled wave (ii) of [iii].
But it is going to take a major selloff into wave (iii) of [iii] to confirm My count now.
And that is a concern here for sure.

In one way there is consolation in the fact that the major Christmas rally has not materialized as was expected.
So there is hope as they say!

Tomorrow;
Watch for this wave (ii) low to hold and then a decline to come in again in wave ‘i’ of (iii) of [iii].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold took a step lower this evening and while this action is not enough to call wave (iii) underway,
it is at least a move in the right direction.
I want to see a little more conviction in the action tomorrow to confirm wave (iii) down.
A decline back below 1752 again would be ideal,
I will just have to wait and see.

Tomorrow;
Watch for wave (iii) down to take hold and make some progress in this pattern.
As long as the price continues to step lower,
then I will stick with this pattern.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Another step higher today suggests wave [iii] of ‘C’ is now underway.
Wave [iii] should push close to that 73.14 high again at wave ‘A’.
And a break of that level will bring us very close to the end of wave ‘C’.
The 62% retracement lies at 75.54,
and that is the most likely target now.

Tomorrow;
Watch for wave [iii] to continue towards 73.14 in a five wave pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

If this market is going to turn down into a third wave,
now is the time.
Todays rally has now corrected higher in three waves and created a lower high.
If this is wave ‘ii’, wave ‘iii’ will follow.
And if I am wrong,
then I will know soon enough.

Tomorrow;
So far this decline off the high is much more impulsive looking than the recent November decline.
this is a positive development in terms of the pattern.
Now we need some follow through to the downside and a break of that wave ‘iv’ support.

Watch for a possible acceleration lower into wave ‘iii’ beginning soon.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is stuck in correction limbo today also.
A small drop off this Mornings high is a possible correction within wave ‘iii’.
In that case,
we should see that wave ‘ii’ low at 22.17 hold.
and wave ‘iii’ of (i) must then push higher towards 24.00 again to confirm this pattern.

I am still a little concerned with the divergences in pattern from gold,
so I will be watching for any spill over effect into the silver market if golds continues lower.

Tomorrow;
Watch for wave ‘ii’ pink to hold at 22.17.
Wave ‘iii’ up must carry higher again tomorrow.