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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD rallied today to close out the trend channel at this evenings highs.
The price has now reached the 38% retracement at this wave (ii) high.
I have marked the 50% retracement level at 1.0742 as the upper end target for wave (ii).
WE should see a top for in wave (ii) soon,
and then wave (iii) down should begin.

Tomorrow;
three waves up is now all but done.
Watch for this correction to top out and then reverse into wave (iii) down soon.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I have relabeled the recent waves to account for the rally off this weeks lows.
The bounce off that recent low has gone far enough to call this wave (ii) of [iii].
The pattern has traced out three waves up so far,
The price is close to hitting the previous wave ‘iv’ highs this evening.
And wave (iii) down should should turn lower before the end of this week if this wave count is correct.

Tomorrow;
Watch for wave (ii) to top out and then reverse into wave ‘i’ of (iii).
A break of 1.2298 again will signal wave (iii) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is sitting pretty at the top of the wave for the last few sessions.
I can’t offer much more in commentary until something actually does happen here!
It is like the market has gone to sleep completely over the last few days.

Tomorrow;
I am waiting for the initial decline into wave ‘a’ of (ii) to begin this week.
A break of the wave ‘4’ low at 153.59 will signal wave ‘a’ is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has been inching higher throughout the day and now the market has broken above Mondays highs.
The 50% retracement level is right above now at 38600 so this would be a perfect area to top out and reverse in both wave count scenarios.
If the market pushes back to the 62% retracement then I will switch to the alternate count.
And this high will be labelled wave [ii] of ‘1’.
Then wave [iii] down will be calling us lower over the coming weeks.

Tomorrow;
WAve (iv) or wave [ii] must top out soon.
this rally is just a clearing operation from the initial decline.
so The next leg down should begin to turn lower soon.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold broke below the lower trend channel line yesterday and that seems to have completed wave ‘a’ down now.
the price bounced off that low today,
and now I am suggesting that wave ‘b’ is underway.

I am looking for three waves up in wave ‘b’ and the top of wave ‘b’ should form near the corrective high of wave ‘b’ black.
It is possible that we get up near 2400 again to top this wave ‘b’.
and then I will look lower into wave ‘c’ later this week.

Tomorrow;
Watch for a three wave correction higher to begin in wave ‘b’ of (iv).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude seems to be stuck in wave ‘ii’ again today.
Even with the rally this afternoon,
I can still see a clear three wave corrective pattern in wave ‘ii’ complete at todays highs.
The high of the session has just topped out at the 50% retracement level of wave ‘i’.
And now I am looking for a return lower into wave ‘iii’ of (iii) for the rest of this week.

Tomorrow;
Watch for wave ‘ii’ of (iii) to top out and return lower into wave ‘iii’ of (iii) beginning tomorrow.
A break of the wave ‘i’ low at 80.70 again will signal wave ‘iii’ is in play.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

After another bounce in wave ‘c’ today,
three waves up in wave ‘iv’ now seems completed this evening.
The rally has cooled off in the last few hours which fits the idea here.
but I want to see a sharp spike lower to begin wave ‘v’ down tomorrow.
If we see a break below the 5000 level again tomorrow that will be a good sign that wave ‘v’ of (iii) is underway.

Tomorrow;
Watch for wave ‘iv’ to hold below that invalidation level at 5143.
Wave ‘v’ down should get underway and drop in five waves to break the wave ‘iii’ low at 4926 again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The bounce in silver today is counted as wave ‘4’ of ‘c’ of (a).
And if this is correct,
then we should see a break below 26.65 again to complete wave ‘c’ tomorrow.

There is a possibility that wave ‘c’ of (a) is already complete at todays low.
If the price rises above 27.56 again at the wave ‘a’ high I will consider switching to that idea.

Tomorrow;
Watch for wave ‘c’ of (a) to complete five waves down near the 26.00 handle again.