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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A lower high has formed in EURUSD and I have labelled this wave ‘2’ of ‘iii’.
the price has dropped back off the session high this evening,
so there is a good chance that wave ‘2’ of ‘iii’ is now complete,
and wave ‘3’ of ‘iii’ should fall from here as shown.

If the price does not move swiftly lower into wave ‘iii’ early tomorrow,
that will suggest wave ‘2’ is still in play.

Tomorrow;
Watch for wave ‘2’ of ‘iii’ to hold at 1.0863.
Wave ‘3’ of ‘iii’ should break below 1.0794 and continue lower to confirm the pattern.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A possible top for wave ‘ii’ of (iii) tonight also.
The move lower off wave ‘ii’ is not enough to confirm the pattern yet,
but at the very least the price action is heading that way.
I want to see a break of the wave ‘i’ low at 1.2575 to signal wave ‘iii’ of (iii) is underway.

Tomorrow;
Wave ‘ii’ should hold at 1.2667.
WAve ‘iii’ of (iii) will be confirmed with a break of 1.2575.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have switched to the more bullish alternate for wave (ii) tonight.
This involves a low in wave (ii) at 150.25,
and now wave (iii) is beginning off that low as shown.
Wave ‘i’ is complete,
and wave ‘ii’ is close to completing a three wave decline.
Three waves down in wave ‘ii’ will fill the trend channel near 150.76.
And then wave ‘iii’ of (iii) will carry out to a new high over the coming days.

Tomorrow;
Watch for wave ‘ii’ pink to complete a higher low near 150.76 and wave ‘iii’ of (iii) to begin.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well the session today has been less than exciting in every way!
The market is flat for the most part,
and I have labelled this sideways move as wave ‘b’ of (ii).
Wave ‘c’ of (ii) will fall back towards support at wave [iv] again tomorrow in this scenario.
And then the test comes for this pattern.
Wave (ii) must hold above that wave [iv] support,
and then the market must turn higher into wave (iii) of [v] later this week.

While a break of support will confirm wave [v] is complete and the market is finally beginning its reversal.
So we will see a serious test of this pattern in a few days.
You all know what I would like to see,
but it is up to the market now.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete a three wave decline and a higher low above the wave [iv] low.
Wave [iv] must hold to stick with the bullish count for wave [v].

GOLD

GOLD 1hr.

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GOLD daily.

WAve ‘b’ is a hard nut to crack,
but the action today leaves very little to the imagination,
as I think the pattern is pretty clear here.

The triangle has been invalidated for wave ‘b’ pink by that sharp spike higher.
that rally topped out at the 62% retracement level of wave ‘a’ and then immediately turned lower again.

I think this move lower has begun wave ‘c’ down.
And we should see a five wave pattern in wave ‘c’ of (iv) that finds a low near the 2130 area by the end of this week.

Tomorrow;
the wave ‘[b’ high must now hold at 2200.
WAve ‘c’ down will trace out five waves and hit a low near 2130.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Its a rough start to a supposed third wave decline in wave (iii) blue.
the move off the top of wave (ii) is not the standard impulsive action to begin a third wave.
So I remain a little hesitant at the moment.
Once the price breaks below the wave (i) low at 80.27 again then I will be willing to start looking at the big picture possibilities for wave [i] and wave ‘3’ down.
WE are not there yet though.

Tomorrow;
Watch for wave (iii) of [i] to drop below the wave (i) low at 80.27 again,
to signal the top is actually in for wave ‘2’ and wave ‘3’ down is getting started.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is off the highs again today without a favorable acceleration lower yet.
The market has not yet retraced into the previous corrective area of wave ‘iv’ yet.
A break of the wave ‘iii’ high at 5189 will do that.
But really I want to see a solid move back below the wave ‘iv’ low at 5100 again to get interested about reversal potential here.
I will give the market a few more days to see how the price action develops to see if we can read into it a bit more.

Tomorrow;
Watch for a break into the corrective range of wave ‘iv’ at 5189 to raise the possibility of a top in place again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has turned lower again after a sideways correction in wave ‘2’ completed at the session high at 24.89.
Wave ‘3’ of ‘c’ has started with a spike lower,
and the price is now holding below the wave ‘1’ low as I write this evening.
Wave ‘3’ of ‘c’ should fall back below the 24.00 level again with ease,
and then the lower target for wave ‘c’ at the 50% retracement level will be an ease stretch to achieve from there.

Tomorrow;
Watch for wave ‘3’ of ‘c’ to continue lower as shown and break the wave ‘iv’ support at 23.98.