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

Heres a few to ponder!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is still holding within the range of the previous fourth wave today.
And for this reason I am still questioning the short term count.

I want to see a break below the 1.1186 level pretty soon to confirm wave (v) is in force here.
If the price fall below the wave ‘i’ low at 1.1271 again,
that will be the forst step.
So the price action is still in limbo at the moment.

Tomorrow;
A break of the wave ‘i’ low will signal wave ‘iii’ has begun,
Wave ‘iii’ should make good progress towards the low at 1.1186 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has dropped off very slightly today but there is very little to go on yet.
The first major price signal will come with a break of 1.3375 at the wave (a) high.
This will suggest that wave [iii] has begun.
And I suspect wave (i) of [iii] will fall below that level when it is complete.
For the moment I cannot confirm that wave [ii] is complete.
IF we get a further decline tomorrow,
that will be a vote in favor of that idea.

Tomorrow;
Watch for wave (i) of [iii] to fall in five waves off this high.
I want to see wave (i) down complete by the end of this week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY did make further progress lower today and now I think we have a full three wave pattern complete in wave (iv).
The price almost made it to the previous fourth wave low at 114.95 at the low,
but the price is holding above that level right now,
and the price has filled the trend channel again at the lows
all this indicates a possible nearby low for wave (iv).

Tomorrow;
Watch for a trun higher to begin in wave ‘i’ of (v).
A break of 115.90 again at wave ‘b’ will signal wave (v) is underway.

Price must hold above 113.94 at the wave (i) high.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

An early decline today has reduced the probability of the previous wave count from Fridays update.
I am looking at two likely alternates this evening.
The main count now views the recent high as wave (i) of [v].
The decline off the top is in three waves so far,
so this is wave (ii) now in place.
And a larger rally is on the wave into wave (iii) of [v] as shown.

The main alternate views the recent high as the top for wave [v] now in place.
IF the declines continue tomorrow and we see a break of 34660 again,
that will trigger the alternate count.

At the moment the counts are evenly balances probability wise.
A break to a new high will confirm the main count,
while 34660 is the key level on the downside.

Tomorrow;
Watch for a continued rally to confirm the main count.
WAves ‘i’ and ‘ii’ should form a higher low above the wave (ii) low.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am still looking at a possible wave [c] decline this week to fall below 1751 at a minimum.
The small rise today is viewed as wave ‘ii’ of (iii) of [c].
With further declines expected in wave ‘iii’ of (iii) over the coming days.
If this count is correct,
then wave (iii) should break that 1751 low to complete.

The main alternate count shows wave ‘D’ as now underway.
The low today is labelled as wave [b] of ‘D’.
And a break above the 1831 high will signal wave [c] up is underway.

Tomorrow;
Watch for wave ‘ii’ to top out below 1820.
A drop below 1782 again will signal wave ‘iii’ of (iii) is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

If the top is now in for wave (2) as shown,
then we should see a nice impulsive decline this week in wave [i] of ‘1’ again.
The pattern off the top got a little choppy today,
so the short term count is not conformed at all yet.
I want to see a solid five wave decline build this week in wave [i] down
and then the larger bearish count for wave (3) down will be on a much firmer footing.

Tomorrow;
Watch for wave (i) and (ii) to form a small lower high and then decline again int wave (iii) by midweek at the latest.
Wave [i] should fall into the 75.00 area again by the end of the week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The price has fallen off the recent top in a five wave pattern so far in the S&P.
If the top is in at the recent high,
then we should see a small corrective lower high in wave ‘ii’ by midweek,
and then a further decline into wave ‘iii’ by the end of the week.
The real test here is the initial support levels at 4530 and 4495.
A break of that band of support will be a big boost to the bearish count.
And that will certainly increase the the probability that the DOW has topped also.
For the moment,
I will concentrate on that lower high in wave ‘ii’ as shown.
A three wave rally in wave ‘ii’ should push into the 4720 area again,
before falling into wave ‘iii’ down.

Tomorrow;
Watch for wave ‘ii’ of (i) to complete a lower high tomorrow in the area of 4720.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is holding a corrective pattern today and this fits with the idea of wave ‘ii’.
The price should fall again in wave ‘iii’ of (iii) this week
and break below the 21.40 support again to confirm the bearish count.
Both gold and silver are poised in a similar pattern right now,
so if one goes,
the other will likely follow.

Tomorrow;
Watch for wave ‘iii’ of (iii) to continue lower this week.
A break of 21.90 again will signal wave ‘iii’ is underway.