Good evening to you all,

the Lord’s blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Holding a higher low above the wave (D) low at 1.0806 this evening.
The price is too close to that low for my liking to be honest.
I am just holding out for a rally into wave [iii] to confirm the idea wave of ‘A’ is in play.
We still have a three wave structure to a higher low now in place,
so the next step is for a third wave rally to get going.

Tomorrow;
Watch for wave (i) of [iii] to push higher and break the wave [i] high again to confirm the short term count.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable refuses to rebound today again,
this final wave down to complete wave (c) of [c] is getting very tiresome to follow!
I still believe the larger wave count in wave ‘4’ is valid as a correction.
And We should be expecting a rally into wave ‘5’ over the coming few weeks.
As for this week,
I want to see wave [i] of ‘5’ get underway this week.
And that will require a rally back above 1.33 in five waves as shown.

Tomorrow;
Watch for wave (i) to cause a spike rally to begin a reversal by midweek.
WAve (i) should break above 1.3200.

Watch for wave ‘v’ of (c) to complete and then reverse higher again.
A break of 1.33 again should be enough to confirm the rally into wave ‘5’ has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

That a turn in fortunes for USDJPY eh!
That triangle pattern has turned from a road to nowhere into a vertical climb in the space of a few sessions.
As for the short term count,
it seems likely that wave (iii) of [i] will top out very soon.
The action on Friday and today shows a series of consolidations followed by small rallies.
This usually suggests a series of fourth and fifth waves closing out a larger pattern.
So I am expecting a corrective decline to begin very soon here in wave (iv) blue as shown.

Tomorrow;
Watch for wave (iii) to complete that internal five wave pattern.
Wave (iv) should fall back below 117.oo again in three waves.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We have a three wave decline into todays lows in the market.
This small correction lower does fit with the idea of a ‘triple three’ complex correction in wave (ii) as suggested.
As long as the price holds above 32332 in this latest decline,
then the final wave ‘c’ should complete a three wave pattern higher this week.
The target for wave ‘c’ lies at 34200 at the recent high.
This pattern should be complete by the end of this week.
And then I will begin to look lower again for wave (iii) of [iii] to begin.

Tomorrow;
Watch for wave ‘c’ up to return higher again tomorrow.
A break of 33700 will confirm this count.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has hit the 1950 level today making a new low for this latest decline.
I am not exactly convinced that wave (b) is complete here just yet though.
The decline into this new low today is not very impulsive looking at the moment,
with that in mind,
this can be viewed as wave ‘b’ of and expanded flat wave (b).

So I have allowed for a rally to resume again in wave ‘c’ of (b) tomorrow.
Wave ‘c’ would hit the 2010 area again to complete that expanded flat pattern.
And then wave (c) down will begin later in the week.

Now,
if the market continues to extend lower again tomorrow,
then I will accept that wave (c) is now underway.
At the moment the pattern does not favor that view.

Tomorrow;
watch for wave ‘b’ to find a low very early in tomorrows session.
A break above 1990 again will signal wave ‘c’ is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is close to completing five waves down in wave [iii] today.
The price did break to a new low this afternoon.
And this decline is viewed as wave (v) of [iii] now in play.
The internal pattern of wave (v) is not a clear five wave pattern just yet,
so I am allowing for another spike lower to complete wave (v) of [iii] tomorrow.
The correction higher into wave [iv] over the coming few days
should result in a three wave pattern to the price territory of the previous fourth wave correction at 108.00 again.

Tomorrow;
Watch for wave (v) of [iii] to complete soon with one more spike lower tomorrow.
Wave [iv] is likely to take at least a few days to complete.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has also traced out a three wave pattern lower today.
So the idea of a complex correction in wave (ii) is still valid here also.
The price is a little close to the low of wave ‘b’ this evening though,
so I am a little less confident in this count as compared to the dow.

If the alternate count is correct here,
then we will see a significant decline over the coming few days in the S&P as wave ‘iii’ of (iii) of [iii] takes us into a ‘waterfall’ decline scenario.
I do not favor that outcome at the moment given the clear three wave pattern off Thursdays high.
But we will see soon enough.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete three waves up with a break of 4420.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is close to completing five waves down at todays lows.
The internal pattern within wave (v) may well have a little more downside left,
but overall the pattern in wave [i] is done.
If this count is correct here,
then we should see a rebound higher into wave [ii] over the coming few sessions.
Wave [ii] is expected to complete back in the area of 26.00 again.
And then wave [iii] down should cause a serious decline to take the air out of the silver market completely over the coming months.

Tomorrow;
At the moment I am tracking this bearish impulse pattern off the top at 26.93.
Wave [ii] should complete this week.
And wave [iii] down is where the big damage will be done.