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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The new count for EURUSD is not confirmed just yet,
but todays action is surely stepping in that direction.

Wave (i) of [v] is close to completing now,
there is almost five waves down in place off the top at 1.1386.
This level must hold at wave [iv] green.
And wave [v] green will be confirmed with a break of 1.1186 again.
So this new pattern needs a little more downside to be sure of,
but I have to admit that another decline phase is now more likely that not.

Tomorrow;
watch for wave (i) and (ii) to complete a lower high below 1.1386.
Confirmation of this pattern will come with a break of 1.1186 in wave (iii).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has not yet completed wave [ii] yet, as todays action brought us to a new high again.
Wave ‘v’ of (c) is close to hitting the 62% retracement level of wave [i] after todays trade,
so that level becomes the most likely target for wave (c) of [ii] to complete.

A five wave decline that breaks below 1.3375 again will signal wave [ii] is complete.
Once that happens, I can look lower again into wave [iii] again.

Tomorrow;
Watch for this final step higher into wave (c) of [ii] to complete.
And then a decline into wave (i) of [iii] should begin.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

This new pattern in USDJPY is a variation on the theme of a large degree impulsive rally in wave (1).

If you have a look at the daily chart you can see the rally this week has broken out to a new high,
and that action now fits an ongoing rally in wave (1) better than the previous count.

It now seems that wave ‘3’ of (1) is coming to a close after this weeks new high.
The 4hr count shows wave [v] of ‘3’ tracing out a five wave pattern higher.

The hourly chart expands wave (iii) of [v].
And we now have five waves up in place for wave (iii).

If this count is correct,
then USDJPY will begin to step higher over the coming weeks in a series of fourth and fifth waves.

Tomorrow;
Watch for wave (iii) of [v] to top out very soon.
A drop back below 115.00 again will signal wave (iv) is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is holding at a new all time high again this evening and wave (iii) of [v] is now has a completed pattern.
There may be a little more upside to close out wave ‘v’ of (iii).
The rally in wave (iii) has reached equality with wave (i) already,
so everything gain above this level is simply closing out the pattern in wave ‘v’ of (iii).

This pattern suggests another drop in wave (iv) coming by the end of this week,
and then a rally in wave (v) of [v] to begin again next week.
A break below 34666 at the wave (ii) low again will signal wave [v] is done.

Tomorrow;
Watch for wave ‘v’ of (iii) to top out by tomorrow evening.
Wave (iv) should begin on Thursday again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has now completed a lower high below the wave [b] top at 1831.
The pattern off that top is reasonable impulsive pattern so far.
If this short term pattern is correct,
then I can expect a decline again into wave (iii) of [c] to begin before the end of the week.
The key low now lies at wave (i) blue at 1797.
A break of that low again will signal wave (iii) of [c] is underway.
Wave (iii) should fall into the previous extreme low at 1751 again.
And the larger wave [c] is targeted to the 1720 area to complete.

Tomorrow;
Watch for wave [c] to continue lower in five waves and the high at wave [b] should hold at 1831.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The pattern into todays high in crude is not ideal at the moment.
We have a pretty choppy move higher off the wave [iv] low at the moment.
This does not fit a five wave pattern in wave [v] yet anyway.
Maybe the action will clear up tomorrow in wave [v] and if it does that will be all the better.
But I am allowing for a possible alternate wave [iv] decline below 74.00 again to complete a larger wave [iv] as shown.
And off that corrective low I will look for wave [v] to begin.

Tomorrow;
Watch for the pattern in wave [v] to push higher again and for this short term action to clear up.
Any drop back into the 74 area again will trigger the larger wave [iv] idea.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A new high today did meet the minimum requirement for wave ‘5’ of ‘v’.
But I am now reluctant to call this rally complete until I see something convincing to the downside again.

I am looking at the pattern off the wave ‘4’ low as a small higher low to begin wave ‘5’ up again.
This action suggests a rally again into the end of the week to complete five waves up again in wave ‘5’.
If that happens,
then I will look for a reversal pattern to begin again and a possible closing of this rally in wave ‘v’.

Tomorrow;
Watch for this wave ‘5’ pattern to run its course this week.
A rally into the upper channel line again will open up the possibility for an impulsive decline again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is holding onto the bullish count for the moment at least,
but as I have now mentioned art least ten times,
we need a sharp rally into a third wave to confirm the bullish count.
A rally back above 23.40 again will be a sign that wave ‘3’ of ‘iii’ is underway.
But I just can’t shake that bearish alternate count on the 4hr chart yet.
That count is a mirror image of the main wave count now.
And it shows the recent declines as a [i] [ii] lower high.
The risk here is a decline into wave [iii] as shown.

Tomorrow;
The rally is due and must arrive this week!

Watch for wave ‘3’ of ‘iii’ to push back above 23.40 again.