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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is holding off from breaking to a new high in wave ‘v’ of (c) again today.
The price is stil poised to break above 1.1017 to finish this pattern in wave (c) of [b],
but wave ‘v’ is taking its time in completing the job.

I have marked the wave ‘iv’ low at 1.0889 tonight as a key support for this short term pattern.
if that level breaks again then I will look at an alternate count for the hourly chart again.
For the moment we can give wave ‘v’ another chance tomorrow.

Tomorrow;
Watch for wave ‘v’ of (c) to complete this pattern with a break of 1.1017.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable came down today in a pretty impulsive looking manner.
I amd not convinced of wave ‘iii’ yet.
A clear break of the wave ‘i’ low at 1.2628 will signal wave ‘iii’ is in play here.
But this is a good start for sure.

Tomorrow;
Watch for wave ‘iii’ of (i) to continue lower in five waves and to break into the 1.2500 handle again to confirm the pattern.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is holding below that weave (ii) high again today and the market is pretty flat all day.
I am suggesting a ‘i’ ‘ii’ pattern off that wave (ii) high.
This should begin wave ‘iii’ of (iii) to the downside.
Wave ‘iii’ will be confirmed with a break of the wave (i) low at 140.93 again.

Tomorrow;
WAtch for that wave (ii) high to hold at 144.95.
Wave ‘iii’ of (iii) will be confirmed with a break of 140.93 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow was flat on the day until a few minutes ago!
And there was very little to say!

I am not going to allow myself to read much into this action though.
The decline is nice off a possible fifth wave top.
The market is now trading back in the trend channel again.
But there is no support break yet.

There is very little point in making any big calls on the potential of a reversal until we see a solid decline to break support again.
The last time stocks broke support is a distant memory now.
so the next time it happens will be a real shock to the narrative I suspect.

Tomorrow;
Lets see if this decline puts an end to wave (v).
The initial support lies at wave (iv) at 37140.
A break of that level will be a first signal of the potential reversal.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The market has been dead in the water today so I am not finding much to go on here.
The new pattern for wave ‘b’ is still in play here and that calls for a drop into the 2010 area to complete three waves down in wave ‘b’.
Wave ‘c’ of (ii) should turn higher again before Friday with a minimum target above the wave ‘a’ high.

Tomorrow;
Watch for wave ‘b’ to complete as suggested,
then wave ‘c’ will be set to turn higher again.

If the price turns higher again tomorrow and breaks wave 2047 that will suggest wave ‘c’ has started.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

A drop off today in crude suggests waves ‘i’ and ‘ii’ are still underway here.
Wave (c) should continue higher for the next week in this case.
WAve ‘i’ lies at 75.36 and a break of that level will signal wave ‘iii’ is underway.

Tomorrow;
Watch for that wave (b) level to hold at 72.25.
Wave ‘c’ should turn higher again from here and carry up towards 76.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Well I can’t say that I am not a little bit relieved to see this decline to close out the session.
That gives my main wave count a breather for a few days at least!

Remember,
unlike the DOW,
the S&P has not broken to a new high after this long rally.
so the wave ‘2’ idea is still valid here.
If we get a serious rejection at this level it will give a nice boost to the wave ‘2’ count.
But we are a long way from confirming wave [i] down,
let alone the larger wave ‘3’ down which is the big prize at the end of all this relentless bullishness!

Tomorrow;
I have marked the wave [a] high at 4607 as the main support for this pattern.
That is the level to watch from here.
A break below the 4607 level again will signal wave (i) of [i] of ‘3’ is a possibility.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver did poke its head out above the wave ‘1’ top today but I can still only count a three wave rise to this high.
I am suggesting that wave ‘2’ is now an expanded flat correction.
And the price should fall back below 23.64 to complete the pattern.
The 50% retracement level is still a good level to watch for wave ‘2’ to complete so keep an eye on 23.40 as a target for wave ‘2’.

Tomorrow;
Three waves down should be complete at 23.40.