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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is pretty lazy today as the stock market took all the limelight!
The pattern in operation here is very corrective looking,
especially as the pair made a new low today in a three wave form.
The overall pattern seems to be an expanded flat wave (ii) correction
With wave ‘c’ of (ii) left to complete in the area below 1.1400.

Tomorrow;
With a lower high in place at wave (ii) in the next few days,
I will then begin looking towards a larger decline into wave (iii) of [v] by the end of the week.
Watch for wave ‘c’ of (ii) to to complete this correction by tomorrow evening.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable took a real spill today and the acceleration seems to fit a third wave down at the moment.
I am looking for wave (i) to complete this week with a break below 1.3375 at the wave (a) high.
And then a corrective lower high to begin in wave (ii) towards the end of the week.

The decline into wave ‘iii’ of (i) today does not look complete yet.
I think we need to see another drop into about 1.3400 again to trace out five waves within wave ‘iii’.
And even then the larger wave (i) requires more action to complete all its necessary internal waves.

Tomorrow;
Watch for wave ‘iii’ to complete with another drop into the 1.3400 area.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The rally has not happened yet in wave (c) but that has not changed my view on this pattern yet.
As each day passes the action off the wave (a) high at 115.07 look s more and more like a corrective wave (b) decline.
And I do think wave (c) is only a matter of time.
A break above 114.50 again should be enough to confirm wave (c) and the larger corrective pattern in wave [b].

Tomorrow;
Watch for wave (c) to begin to more higher in five waves and top out above 115.07 this week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Todays sharp acceleration lower has resulted in the largest break of the daily 200ma since the covid crash back in February 2020.
Now the only question on my mind is this;
Is this it?

You know my general bias is to the downside in a catastrophic crash longer term.
But is the beginning of that crash?
I can say this much,
its a very good fake if this is not a big trend change move!

The market has bounced significantly off the early lows,
and right now the price is holding above the lower end of that support band.
It seems that the rally is large enough to suggest wave [i] down is complete and wave [ii] is now underway.

If that is the case,
then we should see a significant lower high build over the coming days in wave [ii] as shown.
I am looking at the area between 34665 and 35000 to complete this correction higher.
If we start to see an extended rally above that area,
then I will have to question the validity of this count.

There is a possibility that todays rally is only wave (iv) of [i].
If that is true,
then we will see a smaller correction to the upside here and then another new low to complete wave (v) of [i].

Tomorrow;
Watch for wave [ii] to complete a three wave correction higher by midweek.
If this count is correct here,
then we could a larger decline begin in wave [iii] down by the end of this week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is moving sideways in a correction pattern today,
and I think this action counts best as wave (b) of [a] at the moment.
Wave (b) should complete below 1847 now,
and then I suspect we will see a larger decline into wave (c) of [a] by Wednesday at the latest.

In general I want to see the price roll over off the top of wave ‘D’ this week,
and down into wave ‘E’ of the triangle this week.
Wave [a] of ‘E’ should fall into the recent lows at 1805 at a minimum.

Tomorrow;
Watch for wave (b) to hold at this sessions lower high.
And then a five wave decline must begin in wave (c) of [a] over the coming few sessions.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has traced out a three wave correction lower in wave [iv] at todays lows.
the price did fall into the price range of that previous fourth wave,
and so far has bounced off that low in what could be the initial move into wave [v].
there is no confirmation of the low in place for wave [iv] yet,
but a rally back above 85.00 again will signal wave (i) of [v] is in force.

Tomorrow;
The low of the day should hold at 81.73.
Watch for wave [v] to continue higher in five waves again this week.
Wave [v] has the potential to hit the 90 handle again if we hit the upper trend channel line again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

In an ideal world the S&P would halt this rally off the low pretty soon to complete wave (iv) blue as shown.
And then reverse lower again to create a new low in wave (v) of [i].
There is a possible count which allows for todays lows as wave [i],
but I do favor the count I have shown in the hourly chart at the moment.

The rally off the low of the session today is impressive alright,
but I think the real test of the strength of the bounce comes tomorrow.

If the market breaks again and falls to a new low as shown,
That will really dampen appetites.
We will then have a clear five wave pattern to the downside in place off the all time highs.
And the hunt will begin for a bearish lower high in wave [ii] next week.

Tomorrow;
Watch for wave (iv) to complete below 4580 at the extreme upper end.
I would like to see 4495 hold which is the neckline of the H&S pattern.
Wave (v) down should fall below 4220 again by the end of this week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver basically fell and bounced again in line with the equity market today.
If stocks do fall again tomorrow,
then I suspect we will see an even larger drop in silver into wave [i] down along with it.

I am willing to allow this pattern time to develop in wave [i].
The price has not created a five wave decline off the top just yet.
the low at wave (iv) holds the key in my book.
a break of 2280 again will confirm wave ‘B’ has topped and wave ‘C’ is underway.

Tomorrow;
Watch for wave [i] down to continue lower and trace out a five wave decline this week.
target 22.80 at a minimum.