Good evening to you all folks, and the Lord’s blessings to you all tonight.

https://www.zerohedge.com/economics/hard-landing-virtually-inevitable-countdown-recession-begins-2s10s-curve-inverts

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD ripped higher today without making a new low for wave [ii].
This action make me bite my tongue a little!
as I did expect wave [ii] to break the wave (a) low before turning higher.

The form of the rally today is inline with an impulse wave higher in wave [iii] green.
And todays spike rally is labelled as wave (i) of [iii].

Tomorrow;
Watch for wave (i) to complete five waves up and then another higher low should form in wave (ii) near the 1.1000 handle again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is still tracing out five waves down within wave ‘v’ of (c) today.
The price did spike higher also here,
but that rally has now been almost totally retraced.
That action does suggest wave ‘5’ of ‘v’ is now underway.
and wave ‘v’ should break the 1.2998 low again to complete the pattern.

Tomorrow;
Only a break of 1.3298 again at wave ‘iv’ will signal that this market has turned up again.
Watch for wave ‘v’ to continue lower and hit that lower target level before turning higher again later this week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is now beginning to make progress to the downside and day by day I am beginning to build a case for a large second wave correction here,
I have shown a possible [a] [b] [c] layout for the initial decline into wave ‘A’ red.
Of course it is too early to be certain,
but if this pattern plays out we will see a low in wave ‘A’ by the end of this week now doubt.
And then next week wave ‘B’ will build a lower high below 125.08.

Tomorrow;
Watch for wave [c] of ‘A’ to continue lower and hit that previous fourth wave low at 121.20 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Stocks are priced for absolutely perfect calm sailing from here on out.
no more war,
no deflating economy,
no sanctions,
and of course no oil shock to be seen here!
We are in a blissful neverland right now according to the stock market.!
God forbid anyone would ever open their eyes to reality again.

The rally over the last week is labelled as a possible wave ‘c’ of (ii),
and we are still feeling for a final high on that wave right now.
The price must not break 35860 at the wave [ii] high.
And I do want a reversal to begin now in wave (iii) for the rest of this week.
So we are at a critical turning point in this structure.

Tomorrow;
Watch for wave ‘i’ of (iii) to turn lower soon and then fall in five waves to break 34000 again.
The high at wave [ii] must hold at 35860.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Todays low did actually tag the 62% retracement level of wave [i].
That low did break the wave (a) low,
So we have a minimum target now in place for wave (c) and [ii].

I have an alternate label at that low for wave [ii] now.
If we see a five wave rally off that point,
And a break of 1966 again that will trigger the alternate count.

Tomorrow;
I am still allowing for a larger wave (c) to trace out here in the main wave count this evening.
The spike off todays low is viewed as wave wave ‘ii’ of (c).
And in this scenario I am expecting three waves up to form that wave ‘ii’ lower high.
Followed by another decline into wave ‘iii’ of (c) again later in the week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil hit a low this morning of of 98.44 in the spot market.
This latest decline broke the 62% retracement of the wave [a] rally,
and now we have a nice spike off that low to suggest wave [b] is done.
The short term count now calls for a five wave rally in wave [c] of ‘2’ over the coming few days.
If this count is correct,
we will see a break of 116 again at the wave [a] high to complete wave [c].

Tomorrow;
Watch for that low at 98.44 to hold and a five wave rally to begin in wave [c].
Wave (ii) should form a higher low above that wave [b] low tomorrow.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is on autopilot now and we are coasting into a top in wave ‘c’ of (c) of [ii]
This rally in wave (c) of [ii] has now broken toe high of wave (a).
And the internal pattern has completed a three wave structure,
This is in keeping with this complex triple combination correction that I am tracking.
We have five waves up in place for wave ‘c’.

Tomorrow;
and this point all I can do is wait for some price action to signal a turn lower is beginning.
Watch for wave ‘c’ of (ii) to complete a then turn lower to begin wave ‘i’ of (i) of [iii].

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver took a real hammering this morning and broke the wave [i] low with ease.
The wave (ii) lower high is now underway with that bounce off the low.
And I am looking for a three wave pattern higher to build now in wave (ii) by the end of the week.

Tomorrow;
Wave ‘a’ and ‘b’ should should form a higher low above that 24.00 low at wave (i).
Wave ‘c’ of (ii) is projected back towards the 25.00 handle again.
We are looking at a possible wave (iii) of [iii] decline forming next week if this count is correct.