Good evening to you folks,

God’s blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am getting concerned that the bullish count for EURUSD will be invalidated this week.
The decline off the recent high at wave ‘i’ is in there waves,
that much is true.

But the action today is only corrective to the upside,
and if that is the case,
we should expect a further spike lower to complete five waves down off the wave ‘i’ high.

So far the main count is spot on,
and I will stick with that view until the pattern rules it out.
But todays action is just not what I want to see beginning a third wave rally.

Tomorrow;
If the price pushes higher in a nice impulsive pattern then my worries will be relieved.
But if we see a decline back below 0.99 again,
that will really threaten my bullish outlook.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is corrective higher also today and that is in line with the main count for wave (ii).
The action has not created a clear three wave rise off the wave (i) low,
so I am allowing for another rise above 1.1600 tomorrow to complete wave (ii).
If that happens,
then I will look lower again for wave (iii) down to take over.

Tomorrow;
Watch for wave (ii) of [v] to complete three waves up as suggested.
A break of 1.1479 again will signal wave (iii) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The count in USDJPY has been saved from invalidation todayby another sharp move lower.
The decline is not enough to confirm the main count yet,
but at the very least I can continue working on the assumption that wave ‘B’ has topped out.
I do need to see another sharp decline this week to begin wave (iii) as shown.
A break of the low at 141.50 of wave (i) will signal wave (iii) is underway.

Tomorrow;
Watch for wave (ii) to hold that very small lower high.
Wave ‘ii’ must complete very soon near 143.60.
Wave ‘iii’ of (iii) is expected to fall sharply again before the end of this week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is in a state of shock today and it seems there is very little in the way of buyers at this level at least today!
There is a possibility that wave ‘i’ and ‘ii’ are actually done at todays corrective high.
I know that the relative size of the wave is tiny in comparison.
But the risk is very real of a small correction after a shock move like we saw in wave ‘i’.

Now if wave ‘ii’ is done at todays highs at 31290,
then wave ‘iii’ of (iii)of [iii] will begin before this weeks trade closes on Friday.
I am not absolutely certain of this,
but I do think it is worth being very vigilant tomorrow just incase another big decline does take over the market.
And that third wave acceleration phase that I have been waiting for begins.

Tomorrow;
Watch for a sign that wave ‘ii’ is complete with a turn lower that breaks support at 30120.

The initial target for wave (iii) blue lies at 29630.
This is where wave (i) and (iii) reach equality.
If wave (iii) reaches 162% of wave (i),
that gives a target at 27730.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave ‘a’ down has traced out five waves down now.
The price is still falling this evening as I write,
but I suspect wave ‘a’ will find support at the 1685 level and then turn higher into wave ‘b’ tomorrow.
The larger count for wave (v) is now back on course as an ending diagonal.
And we should see three waves down complete near that 1650 target by the end of next week if all goes well.

Tomorrow;
Watch for wave ‘a’ to complete soon and then correct higher into wave ‘b’ later tomorrow.
Wave ‘b’ should hold near the previous shoulder at about 1707 or there about.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I have switched to the alternate count this evening and the reason is simple,
the price is pushing the limits of last nights count all day,
and a break of 90.17 will do it now.
It is too close to ignore this option now.

If the price turns sharply lower again by the end of this week,
then I will look again at the immediately bearish count.

At the moment I will allow for wave ‘2’ to create a larger expanded flat correction,
with a target for wave [c] of ‘2’ at the 101.00 high of wave [a].

Tomorrow;
Wave (i) and (ii) may already be complete of this five wave rally in wave [c].
A break of 90.17 again will signal that wave (iii) of [c] is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is basically flat today and losing any gains that the corrective action made today as we hit the close.
This action is in line with the idea that wave ‘ii’ is now complete and the market is turning into wave ‘iii’ down again.
AS with the DOW,
there is a possibility that wave ‘2’ of ‘iii’ is already complete at todays high.
and if that is the case,
we should see an acceleration lower again into wave ‘3’ of ‘iii’ over the coming few sessions.

The target for wave ‘iii’ lie between 3734 where wave ‘iii’ equals wave ‘i’.
and 3475 where wave ‘iii’ hits the 162% extension of wave ‘i’.
I prefer the lower target as this will extend the pattern lower and allow the larger wave (iii) to fall further.

Tomorrow;
watch for wave ‘2’ of ‘iii’ to complete and then turn lower into wave ‘3’ of ‘iii’ of (iii) before Fridays close at the latest.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver turned higher off a three wave decline in wave ‘iv’ today.
This action suggests that wave ‘v’ of (iii) is now underway.
And we should see wave ‘v’ hit a new high above 20.00 this week.
That will complete wave (iii) of [c].
The action from there will get choppy again into wave (iv) of [c].
And then next week I will look for wave (v) to complete the larger corrective pattern again.

Tomorrow;
Watch for wave ‘v’ of (iii) to push higher and break 20.00 again.
A break below 1857 again will invalidate this pattern for wave [c] of ‘4’.