Good evening to one and all.

The Lord’s Blessing’s to you all again tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD seems to forming a possible higher low tonight and I am calling this wave ‘b’ of (b) this evening.
If the low at 1.0531 holds tomorrow then I think we can be pretty confident on this count for wave (b).
Wave ‘c’ of (b) should turn higher again later this week,
and I am looking at a high above 1.07 for wave ‘c’ to top out.
But all this depends on that low of wave (a) holding tomorrow.

Tomorrow;
Watch for this correction higher in wave (b) to continue in three waves.
1.0531 should hold.
If support breaks,
then I will have to revisit the count for wave (a).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave ‘ii’ pink has worked out pretty well today after last nights wave count change.
The high today did not quite break the top of wave ‘a’ at 1.2149.
WAve ‘c’ came in short by a few pips,
but I think we can count this as a failed wave ‘c’ of ‘ii’.
The price reversed quite sharply off the top of wave ‘c’ today,
and that action suggests wave ‘ii’ is now complete and wave ‘iii’ down is underway.

Tomorrow;
WAtch for wave ‘iii’ of (iii) of [c] to continue lower in five waves.
A break of the wave ‘i’ low at 1.1914 again will signal wave ‘iii’ is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

After completing five waves up in wave ‘5’ black,
USDJPY reached a top in wave ‘iii’ of (iii) at todays high.
The price has dropped off that high with a pretty sharp move lower.
So I am suggesting now that wave ‘iii’ is complete,
and wave ‘iv’ is now underway.
Wave ‘iii’ failed to hit the 162% extension of wave ‘i’ pink.
But todays high is close enough to call that target met.

Tomorrow;
Watch for wave ‘iv’ to take over now and correct lower in three waves towards 133.90 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Todays new low for the year has all but wiped out the wave (ii) rally that puch higher over the previous two months.
The corrective nature of that rally was never in question in my mind.
but it is nice to see the market finally agree with your outlook
even if it was a painful correction higher to endure!

So now the question is this,
is wave ‘iii’ of (iii) still underway,
or is there something different going on here after todays new lows.

I am willing to give the main count another day to prove or invalidate itself.
There is still a possible expanded flat correction developing here.
And in that case wave ‘c’ of ‘ii’ should rally back above 33200 again to complete three waves up.

If the market begins to accelerate the declines tomorrow,
that will favor the idea that wave ‘iii’ of (iii) is already underway.

Tomorrow;
Watch for wave ‘b’ to form a low early tomorrow,
a rally back above the wave ‘a’ top at 33200 will complete wave ‘ii’.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

A spike higher in gold today suggests wave ‘a’ of (b) is now underway.
WAve ‘a’ seems to be tracing out a small five wave pattern higher today,
so I am expecting another push above 1830 to complete that initial rally.
Wave ‘b’ should then correct lower to form a higher low by the end of the week.
Wave ‘c’ can wait until next week to complete wave (b) near the 1860 level again.

Tomorrow;
Watch for the low at wave (a) to hold at 1804.
Wave ‘a’ should top out at 1830 after a five wave rise off the lows.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Today rally has not doen a whole lot to convince me that the main count is the best fit pattern now!
At the moment,
it seems that the price has traced out three waves up to meet the initial resistance at the the previous wave ‘b’ at 77.75.
This is a typical level for a corrective rally to retrace to.
So tonight I am seriously considering the alternate count again.
I will switch to that more bearish count if we see a break below the wave (ii) low at 73.85 again.
Until that happens,
this market remains a 50/50 probability between the both wave counts.

Tomorrow;
WAtch for a rally back above 79.73 tomorrow to favor the main wave count in wave [c] of ‘2’.
73.86 must hold.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has traced out a clearer three waves down to form a higher low in wave ‘b’ today.
The low at wave ‘i’ should hold tomorrow as wave ‘c’ turns higher again to complete wave ‘ii’.
Wave ‘c’ is expected to break the wave ‘a’ high at 4018 again.
And then we enter the danger zone for this wave count.

Once wave ‘ii’ completes,
then we are staring down the barrel of wave ‘iii’ of (i).
And wave ‘iii’ should fall towards 3760 again at the wave (b) support.

Tomorrow;
Watch for wave ‘b’ to complete now and wave ‘c’ to turn higher early tomorrow morning.
The minimum target for wave ‘c’ lies at 4018 at the wave ‘a’ high.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am trying something different tonight after a sharp bounce in the pattern today.
There is a chance that wave ‘C’ is tracing out a clean five waves down as shown.
And the low of the session today was wave [iii] of ‘C’.
Wave [iv] should hold below the wave [i] low at 21.16.
And if this pattern is correct,
then wave [v] should fall again to break 20.40 and close out the channel near the 19.90 level.
That will complete three waves down in wave (2),
and then I can begin to look higher again for a signal that wave (3) is about to take the price much higher.

Tomorrow;
watch for wave [iv] to hold below 21.16 and complete a three wave corrective pattern.