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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

There is a small reversal possibility underway here.
Wave ‘v’ of (b) may have topped out with a failed fifth wave as shown.
If that is correct,
The decline today can then be viewed as wave ‘i’ of (c) now in play.
The price has broken 1.0888 at the wave ‘a’ high today,
but the pattern will be confirmed with a break of the wave ‘b’ low at 1.0794.

Tomorrow;
Watch for wave ‘i’ of (c) to fall into the 1.0850 area and then wave ‘ii’ should create a bearish lower high by tomorrow evening.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Three waves down so far in cable and now we are in the support zone for this pattern.
Wave (iv) must complete above 1.2708 at the wave (i) high.
and then wave (v) must rally back to a new high above 1.2893 to complete this pattern.

Tomorrow;
WAtch for the wave (i) high to hold at 1.2708.
A break of that level will signal an early turn down into wave ‘3’ red.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY completed the triangle in wave ‘iv’ as suggested last night.
And now the price has spiked higher again this evening.
This rally is viewed as wave ‘v’ of (i),
and I am looking for as much as possible in wave ‘v’ with a possible target area near 149.00 again.
Once we have five waves up complete in wave (i),
then wave (ii) should trace out three waves down to a higher low next week.

Tomorrow;
Watch for wave ‘v’ of (i) to top out with a rally towards the 149.00 level.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

On the 4hr chart I have shown the alternate count more clearly for this top.
The triangle idea for wave [iv] complete this week,
and the rally into the high yesterday did break above the previous wave [iii] top.
This means we have a valid count for a completed wave ‘C’ of (B).
And that is one explanation for the reversal off the top we saw today.

The main count did call for a new high in wave (v) of [v] this week,
and we have not achieved that goal.
I am not sure if the ending diagonal pattern for wave [v] green can turn higher again tomorrow to complete the pattern,
WE will see how this decline develops,
but at the moment,
I will admit that the alternate count on the 4hr chart is a better fit if this decline continues.

Tomorrow;
If the low of wave (iv) breaks at 38450 that will strongly favor the 4hr chart.
And a break of 38000 again will signal that the reversal off the wave (B) top is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold moved lower today in line with the main count for wave ‘a’ of (iv).
I want to see wave ‘a’ fall into that lower trend channel line at 2135 if possible.
and after that I will look higher again into wave ‘b’ early next week.
As usual,
there are many different internal patterns that this fourth wave correction can follow,
and I will not know with certainty until we get further into the pattern.
For the moment,
this simple idea is working for wave (iv).
So I will continue to use it as a model for the action.

Tomorrow;
Watch for wave ‘a’ of (iv) to continue towards the 2135 area in three waves as shown.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has finally broken out of the previous pattern shown for wave [c] of ‘2’ with a break above 80.50 today.
Overall the main idea is solid for wave ‘2’ blue.
Wave [c] will complete soon,
and then we will begin the long road lower into wave ‘3’.

The pattern now suggests a new top in wave ‘v’ of (v) is due.
I have shown a possible five wave pattern developing for wave (v) of [c].
The price will meet the upper trend line again near 82.00.
And from there I will look lower into wave [i] of ‘3’.

Tomorrow;
Watch for five waves up to complete in wave (v) blue.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am going to allow another day for wave ‘v’ to complete three waves up to finish this ending diagonal pattern in wave (v) blue.
the rally so far this week as traced out waves ‘a’ and ‘b’ of ‘v’.
with wave ‘c’ of ‘v’ left to close out the pattern at a new high in wave [v]of ‘C’ of (B).

The wedge form of the rally is continuing all this week,
and a new high in wave ‘c’ will be enough to finish the larger pattern nicely.

Tomorrow;
Watch for wave ‘c’ of ‘v’ to top out at a new high and in doing so,
we should see an end to the much larger wave (B) red.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave ‘v’ is developing into a nice clear five wave pattern today,
and this pattern suggests one more high for wave ‘5’ of ‘v’ lies ahead tomorrow.
That action will be enough to top out the larger wave (i) blue,
and then next week I will look for wave (ii) to correct lower in three waves.

Tomorrow;
Watch for wave ‘5’ of ‘v’ to pop above 25.15 to finish the larger pattern in wave (i).