Good evening folks, the Lord’s Blessings to you all.

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is holding at the lows after that sharp decline off wave (iv).
I think the pattern in wave (iv) is strong enough to confirm that wave is finished.
Wave (v) should be underway now.
I am still looking for a bearish lower high to build in wave ‘ii’.
That will have to wait for tomorrow.
If his pattern is correct,
then we should see a further acceleration lower into wave ‘iii’ by Fridays close.

Tomorrow;
WAtch for wave ‘ii’ to rebound in a corrective three waves towards 1.0640 again.
That lower high should complete by tomorrow evening.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable broke below that wave ‘b’ low today
and the price is holding below that initial support level quite well tonight.
Wave ‘ii’ has not appeared yet,
I dont count those small bumps as anything more than a sub wave within wave ‘i’.
Wave ‘ii’ should retrace back into 1.2200 again in an ideal world.

Tomorrow;
Watch for a three wave rally to target that 1.2200 handle again.
that will setup for the larger decline into wave (iii) over the coming week.

A break of 1.20 again will signal that wave ‘iii’ of (iii) is already underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Another rethink of the main pattern again tonight.
This rally in wave ‘c’ has pipped to a very slight new high tonight.
And that rules out last nights count.

Wave ‘c’ has still held the general wedge shape to the action even into todays new high.
So I am not going to change the main count yet.
I am allowing this pair a lot of room to turn lower into that wave ‘c’ decline.
So what’s another day!

Tomorrow;
Lets see if this new wedge pattern will close out and turn lower into wave (c) before the end of this week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The corrective action in wave ‘4’ may have topped out finally today.
the market has turned lower again off that wave ‘4’ high,
so another opportunity presents itself for wave ‘5’ of ‘v’ to begin.

Wave ‘5’ must break that support at 32800 again at the very minimum.
If that happens,
then we have a chance again to hit that lower target at 32400.

For the moment,
the corrective action seems to have completed in wave ‘4’ and we await the ext step lower into wave ‘5’ of ‘v’ of (iii).

Tomorrow;
watch for a continued decline into wave ‘5’ of ‘v’ as suggested.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

We have a possible three wave pattern higher in place for wave ‘b’ tonight.
The price is holding a lower high below wave [i] so far.
The test now comes for this larger wave (a) pattern.
Will the price fall again into wave ‘c’ to complete three waves down in wave (a) as suggested.
We will see.

Tomorrow;
I want that wave [i] high to hold.
Wave ‘c’ should fall in five waves and I am looking at that 1930 area to complete wave ‘c’ of (a).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude had a sharp rebound higher today and I am calling this wave (ii) now underway.
The question is,
how complex will wave (ii) get from here.
The 50% retracement level is coming up pretty soon now at 85.84.
So that rally has already covered enough ground to consider wave (ii) complete.
I do expect a more complex pattern in wave (ii) to develop over the coming days.
That will bring us all the way into Friday to compete this correction and then next week I will concentrate on wave (iii) down.

Tomorrow;
Watch for wave ‘b’ to create a small higher low above the wave (i) low and wave ‘c’ of (ii) should then complete with a break above 85.84 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has turned down off that wave ‘4’ high in a nice impulsive manner today.
the price has fallen back below the wave ‘iii’ low again at 4199.
So again the price has hit the minimum target for wave ‘v’ of (iii).

I am still holding out for a drop into the ideal target at 4100 at the 162% Fib target.
And there is now a reasonable chance that wave ‘5’ of ‘v’ can ge3t down that low.
If that happens,
then I will happily look for a corrective rally into wave (iv) beginning next week.

Tomorrow;
Watch for wave ‘5’ of ‘v’ of (iii) to fall in five waves and hit 4100 again.
The wave ‘4’ high at 4266 must hold.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking for a three wave correction in wave ‘b’ pink to create a lower high below 23.68 by tomorrow evening.
So far that idea is playing out.
The price has been stuck in a ranging pattern toay and I am suggesting that wave ‘b’ is tracing out an expanded flat correction.
The rally into this evenings high is in wave ‘c’ of ‘b’.
And wave ‘c’ of ‘b’ must complete above 23.00 again to confirm this pattern.
Once that happens,
then I will look lower again into wave ‘c’ of (ii).

Tomorrow;
Watch for wave ‘b’ of (ii) to close out with a break of 23.00 again.