Good evening to you folks,

the Lord’s blessings to you all tonight,

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We have a five wave pattern lower now in place off that wave ‘b’ high.
and the price has broken below the wave ‘a’ low as suggested by the pattern.
Right now,
this expanded flat correction is complete.
and I can begin to look higher to begin wave (iii) up.

Tomorrow;
Watch for wave ‘c’ to complete above 0.9951.
If we see a nice impulsive looking rally above 1.02 again that will be a good signal that wave ‘i’ of (iii) is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has broken lower earlier than I expected today.
It seems wave (ii) is complete at 1.2143.
And wave (iii) down should now continue lower in five waves as shown.
Todays sharp move lower can be viewed as wave ‘iii’ of (iii) of [iii].
I want to see wave [iii] fall bel0ow 1.1800 again before correcting in wave [iv] next week.

Tomorrow;
Watch for wave (iii) of [iii] to complete five waves down near the support at 1.1760.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has reached the initial target level for wave [c] at 135.88.
this is where wave [a] and [c] reach equality.
Wave [c] has completed a five wave pattern also.
So I think we will see an end to this rally in wave ‘B’ over the next few days.
We may even see the first moves lower off the high of wave ‘B’ tomorrow.

Tomorrow;
Watch for a sign that wave [c] is topping out.
A drop back below 134.60 at the wave (iv) low will signal that a reversal is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

There is absolutely nothing to report today following a completely dead trade.
the price is holding a lower high,
so at least that much has been achieved this week!
There is much more work to be done to the downside in order to confirm that wave [ii] is done and wave [iii] is underway.
I really want to see wave ‘i’ down break that wave ‘iv’ low at 32720 to begin to confident that wave [iii] is actually underway.

Tomorrow;
Watch for that high of wave [ii] to hold again.
the price must continue lower to build confidence of a top in place.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I was not happy with the size of the correction in wave ‘ii’ from earlier in the week,
and now the price action is again failing to give us a reasonable retracement higher into wave ‘ii’ pink!

The action is suggesting that wave ‘iii’ down is now underway.
If that is true,
then wave ‘iii’ msut continue lower tomorrow,
and the high of wave ‘ii’ at 1772.60 must hold.
If all goes well here,
then wave ‘iii’ should fall back into the 1720 area before completing.

Tomorrow;
Watch for wave ‘ii’ to hold at 1772.
Wave ‘iii’ down must trace out five waves lower off that point.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has reached above the previous fourth wave high at wave ‘iv’ pink today.
The high of the session actually hit the 62% retracement level of wave (i).
And so far the price is holding below that level again this evening.

If wave (ii) is now complete at todays highs,
then wave (iii) down must begin very shortly.
A break back below 87.00 again will signal wave ‘i’ of (iii) is underway.

Tomorrow;
Watch for wave (ii) to show signs that the top is in here.
Wave ‘i’ of (iii) should turn lower by Monday at the latest.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

It seems I am going to be stuck with my imagination again tonight,
as the market fails to give me a solid move lower to work with.
I really have exhausted the points that I can talk about regarding a completed pattern in wave (ii) this week.
Every indication that you would expect to be in place after a major correction higher is complete,
is actually in place now.
All we lack is the confirming price action to the downside.

I know that reversal move is coming,
but this is really testing my patience this week!

Tomorrow;
For me,
It will be another day spent looking for that move into wave ‘i’.
Lets see if the top at wave (ii) can hold again.
And the long awaited decline to appear.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver had another spike lower today and has hit the low of the previous fourth wave today,
and I have labelled wave (a) complete now,
and I will be looking for a correction higher into wave (b) over the coming few sessions.
Wave (b) should trace out three waves up and should break above 20.00 again,
maybe even as high at 20.26 again at the previous wave ‘b’.

Tomorrow;
Watch for the lows to hold at wave (a).
Wave ‘a’ of (b) should rise into Todays high at 19.94 again.