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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

So EURUSD is still holding above the triangle low at wave (b) again today.
The pattern off the high has not completed five waves down yet,
but we are on course to do that soon.
I do want to see wave ‘v’ of (i) break that triangle low at 1.1285 before completing.
So that is what I am looking for tomorrow.

Tomorrow;
Watch for wave (i) to complete with a break of 1.1285.
Wave (ii) will then correct higher into the range of the triangle again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has corrected higher in three waves off the wave ‘i’ low.
I am labelling this move as wave ‘ii’ of (i).
With further downside expected next week as wave ‘iii’ takes over.
Ideally, the overall wave (i) pattern should fall beck into the wave (a) high at 1.3375 again.

Tomorrow;
Watch for wave ‘iii’ to carry the price lower again for the next few sessions.
A break of 1.3573 again will signal wave ‘iii’ is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is chugging along in wave [b] this week and taking its sweet time about it too!
The decline over the past few sessions is still best viewed as a (b) wave correction.
I am expecting wave (C) to begin soon and carry the price back above 115.07 again to complete three waves up.
Only then will I look for wave [c] to begin a larger decline later next week.
With the low of wave [c] expected to reach 112.50 when complete.

Tomorrow;
Watch for wave (b) to hold above 113.47.
Wave (c) should begin tomorrow with a break above 114.55.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well the dow is stretching to the downside as we close this evening,
and with that comes the possibility of a shift to the alternate bearish count.

I did maintain that until we see a break of that wave [iv] low at 34665,
then the bullish count is still more likely.

And now just as I am about to load up charts,
the bearish count takes the lead,
because of a break of 34665 as the after market starts.
And now we can label wave [v] as already complete at the recent highs.

Tomorrow;
that is where we stand right now,
A break of that wave [iv] level has tilted the balance in favor of the bearish count off the top.
And then next week I will be looking for a follow through to the downside as wave [i] down develops.

So things are getting very interesting here for sure!

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

There is a reasonable chance that wave (c) is now complete at todays highs.
The rally has come to a halt now in wave (c),
and we have a five wave pattern complete also.
If we see a drop back below 1805 again then I can concentrate on the next leg down into wave ‘E’ next week.

Tomorrow;
Watch for signs of a reversal downwards into wave [a] of ‘E’ to begin.
A break of 1805 will confirm wave ‘E’ is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude may well follow stocks lower if this selling continues tomorrow.
Right now I’m looking at a possible three wave pattern lower in wave [iv] over the next few sessions.
I would like to see at least a drop into the 80.00 handle again in wave [iv],
but this correction could easily fall into the that lower trend channel in three waves as shown.
IF this is wave [iv] now in play,
then I suspect we will see a break of 80 again.

Tomorrow;
Watch for a five wave drop in wave (a) of [iv] to fall into the 83.00 area to complete.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

This evening the S&P broke below the previous fourth wave low at wave ‘iv’ at long last!
that level lies at 4495,
and while that does not confirm my overtly bearish idea here,
it is definitely a step in that direction for sure.
The major trigger level for my larger bearish outlook lies at 4225 and that level is safe for this week at least.

There are a few ways that we can view todays sharp drop.
the main count shows this acceleration lower as wave ‘3’ of ‘iii’ of (iii).
That would explain the verticle nature of this decline for sure.
Although we will need to see a clear follow through tomorrow and further declines early next week for this count to be valid.

If we see a reasonable corrective rally begin tomorrow,
that will favor the alternate count.

I will take each day as it comes here,
as they say, one swallow does not make a spring!

Tomorrow;
Lets see how this third of a third wave develops tomorrow.
A five wave pattern that falls into the the 4350 area will favor this count.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is peaking tonight after another step higher to complete wave [c].
The pattern shows an extended wave (v) of [c] with a clear five wave rally.
If the price falls back into the trend channel again tomorrow,
that will be the first signal wave [i] down has begun.
At this point I want to see wave [i] fall into the 22.80 level to confirm the turn,
I will have to wait until next week for that to happen though.

Tomorrow;
Three waves up in wave ‘B’ is done.
Watch for wave [c] to finally top out and reverse into wave [i] down.