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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I think the rally has now gone far enough to consider wave [v] done at the recent low of 1.1121.
There is a clear five wave rally now in place off that low.
The next leg of the triangle should be underway,
and I am now labelling this rally as wave ‘A’ of (D) as underway.

The initial rise off wave (D) is in five waves and takes the wave (a) of [a] label.

Tomorrow;
the price must now hold above the low at 1.1121.
Wave (b) of [a] is expected to fall in three waves and create a bullish higher low over the next few sessions.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

If this count in cable is correct then we are about to see a major divergence between the EURUSD and GBPUSD.
EURUSD is likely to be quite choppy and wind its way higher in wave (D) of a triangle,
while cable is bout to take a step lower into a third of a third wave down.
Obviously this will put strain on the GBPUSD count if we don’t see wave (iii) develop over the coming days,
but we have options on the 4hr chart.

For the moment I am going to concentrate on wave (iii) down.

Tomorrow;
Wave (ii) has all but hit the 62% retracement level of wave (i) at todays highs.
Watch for a reversal pattern to build down into wave (iii) to finish off the week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has fallen again today in line with wave (iii) of [c] as shown.
Wave (iii) has not completed five waves yet,
so I do want to see another step lower to complete wave (iii) closer to that 113.48 low again.

Tomorrow;
Watch for wave ‘v’ of (iii) to complete before any consolidation in wave (iv) begins.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow has spent the day hovering around the 62% retracement level at 35490.
I have filled out the count of wave (c) this evening also.
And I can see a five wave pattern higher in wave (c) complete at this high.
A three wave pattern in wave [ii] is still the best interpretation.
So at this point we have a bearish impulse wave to the downside complete at the wave [ii] high.
And all that needs to happen now is for wave [iii] to begin with a sharp move lower into wave (i) of [iii].

Tomorrow;
Watch for a drop back below 35000 again to signal wave ‘i’ of (i) has begun.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is tracing out a three wave rally higher in wave [b] this week,
and I think todays action is confirmation of that pattern.
At the moment we have a 5,3,5 pattern in play for wave [b].
That suggests wave (c) will continue higher towards 1825 to complete wave [b].

Tomorrow;
Wave (c) should complete this week.
And then I will look lower again next week into wave [c].
Watch for wave (b) to hold at 1795.
Wave (c) will reach equality with wave (a) at 1822.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

A new high today is again confusing matters in an already crowded pattern.
At the moment I am looking at the new high as part of an expanded flat correction in wave [a].
and so the high of the session gets the wave (b) of [a] label.
It is possible also that this is wave [b] at one degree higher,
but I will just have to wait and see how the next decline takes shape to be more confident on that interpretation.

Tomorrow;
Watch for wave (c) of [a] to continue lower in five waves as shown.
Wave (c) must break 85.70 at a minimum.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I have switched to the alternate count for the S&P tonight simply because we now have an overlap of the wave (i) low today.
The pattern is now moving in lock step with the dow showing a [i] [ii] pattern to the downside.
The market has now retraced to the 62% fib level at todays high also.
So we have that all important trio of signposts in place.
A lower high,
a full 5/3 pattern to the downside,
and a tag of the 62% fib retracement.

As with the dow, all that is needed now is for the market to rollover again to begin wave [iii].

Tomorrow;
watch for wave ‘i’ of (i) to turn lower and fall into the wave (a) high at 4450 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has created a higher low after a three wave decline today and so wave (b) is confirmed now.
The price spiked higher off that wave (b) low also this afternoon.
and that should continue higher tomorrow to confirm wave (c) of [ii].
Wave (c) should trace out five waves up and I am looking at the 23.40 area for wave [ii] to top out this week.

Tomorrow;
Watch for wave (b) to hold at 22.45.
Wave (c) should break 23.04 at a minimum.