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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The top of wave [b] is still in jeopardy today as we have not see an impulsive decline into wave (i) yet.
I am not changing the short term count yet,
as I’m going to give this market another day to prove me wrong here.
A break of 1.0845 will just switch back to the wave (e) of [b] idea again.
And I will have to wait for another top to form.

Tomorrow;
If the price actually falls and breaks 1.0700 again that will be enough to convince me that wave (i) has begun.
Lets see if that level holds at wave [b].

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

the drop off yesterday traced out three waves down and today we have a full retracement of that drop.
we now have a replay of waves ‘iv’ and ‘v’ to complete wave (v) again.
The price has stopped at a double top tonight although wave ‘v’ should carry higher in this scenario.
The previous wave ‘b’ top at 1.2859 seems like a logical target for wave ‘v’ to hit.

Tomorrow;
Watch for wave ‘v’ of (v) to make a high at 1.2860 and then turn down into wave (i) again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY continues to make ever so slight moves higher again today.
The price is holding below the previous wave ‘iii’ top at the moment.
And I have not changed the outlook for a return lower into wave ‘c’ to complete wave ‘iv’.
even if the price breaks wave ‘iii’ that will not change the count.
wave ‘iv’ will only shift to an expanded flat correction rather than a simple flat.

Tomorrow;
wave ‘c’ has evaded us so far this week,
I want to see a turn lower early tomorrow to stick with the main count here.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has literally done nothing this week and that leaves us looking at the very same pattern for another night.
There is a pretty good three wave pattern higher in in play today.
It may be a long shot to call for an impulsive decline to take us lower before the end of this week.
but as long as wave [ii] holds at a lower high,
then I am logically going to look for the next step to begin into wave [iii].

Tomorrow;
Watch for wave [ii] to continue to hold at the recent high.
The market may be tracing out three waves up to a lower high again today,
and that suggests wave (i) of [iii] will turn lower from here.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold managed a three wave rally to a lower high today.
Wave ‘b’ topped out below the recent wave ‘i’ top at 2393,
and now we have a possible drop into wave ‘c’ of ‘ii’ underway.
The target for wave ‘ii’ lies at 2330 where we will hit the 62% retracement level of wave ‘i’.

Tomorrow;
Watch for wave ‘c’ down to complete a three wave correction near 2330

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

A larger bounce came today and that is more in line with a second wave now.
There is a three wave form in place in wave ‘ii’ at the moment.
I will have to wait and see if wave ‘ii’ actually manages a larger pattern before turning into wave ‘iii’ down as suggested.

Wave ‘i’ did fall into the ideal area at the 80.00 handle and now wave ‘ii’ is building that lower high formation.
Wave ‘iii’ of (i) should break clean below 80.00 again this week.
and if all goes well,
wave (i) will retrace all of the wave (c) rally down near 77.00 again.
One step at a time though.

Tomorrow;
Watch for wave (i) down to trace out five waves as shown.
wave ‘ii’ must hold below that 84.00 high for this count to remain valid.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P made a leap for the upper trend channel line today in wave ‘v’ of (v).
That move will postpone the reversal into next week I fear.
It will take another day or so to top this rally and create a throw-over above the channel line.
And when that is done,
then wave (i) can begin in earnest.

Tomorrow;
Watch for wave ‘v’ to complete with a pop above the channel line and then turn lower again to begin wave (i) down.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Its difficult to keep this interesting when the market decides to do nothing all week!

The price is continuing to hold below that wave (b) high so far,
but we still do not have a move that can be described as impulsive into wave ‘i’ yet.
There is a possibility that wave ‘i’ can still build from here,
so I will give that pattern one more chance tomorrow!

Tomorrow;
Watch for wave (b) to hold at 31.48.
Wave ‘i’ muat fall back below 30.00 again to allow this pattern a real chance this week.