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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am looking at the current high tonight as wave ‘1’ pf ‘v’ now complete.
There is a clear five wave pattern in place off that wave ‘iv’ low from last week.
A standard five wave pattern in wave ‘v’ of (c) will carry back up above 1.1200 at the minimum target.
and this rally should take up much of this weeks trade.

Tomorrow;
watch for wave ‘1’ and ‘2’ to form a higher low,
and then a rally into wave ‘3’ of ‘v’ will likely break out above the previous wave ‘iii’ top.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking at the same pattern in cable today.
Five waves up in wave ‘1’ of ‘v’ of (c) is done here.
The pattern suggests a correction into wave ‘2’ tomorrow,
and just like EURUSD,
wave ‘v’ pink should take up the rest of this week to trace out.
The minimum target here is 1.3266 at the wave ‘iii’ high.

Tomorrow;
Watch for wave ‘2’ to forma higher low as shown.
If the price continues higher to break above that wave ‘iii’ high,
that will suggest wave ‘v’ is coming to a close sooner.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY keeps punching to a new low by breaking below that lower trend channel line,
and then almost immediately the price returns higher back into the channel again.

I am looking for a final low in wave (c) of [b] to complete for the last week now,
And even though the price has drifted lower into wave [b].
I still believe that the next significant move will be a rally in wave [c] over 5he coming months.

The start point to this rally has escaped me so far,
but given the extreme bearish sentiment towards the USD now,
I am suggesting that the market is due for a rally in wave [c] at least.

Tomorrow;
Watch for a five wave rally in wave (i) of [c] to begin this week.
A break above 144.00 again will signal this pattern has begun.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I want to look at a possible alternate count on the 4hr chart first tonight.
The rally in wave [v] can be labelled as an expanded wedge pattern if we start at the April lows.
That low takes the wave [iv] label,
and from there we have a series of three wave sub waves which form an expanded wedge.

the market ahs hit a new high today,
and this can be fit the wedge idea also.

I know you will probably curse my consistent bearishness!
but,
the hourly chart shows a new interpretation of the recent wave [v] green.
A standard five wave pattern is again in play here with wave (v) of [v] now well underway.
the larger pattern has extended over and over again in the last 6 months.
The degree to which this can happen as we progress here is now well diminished.
Wave (v) will complete this week,
and then the trap door can open again.

Tomorrow;
Watch for wave wave (v) to complete this week as shown.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is in a very similar position to the stock market at this wave ‘3’ high.
The pattern is crawling higher over the last few months,
and the price action continues to narrow in range.
The wedge pattern fits here also,
except it is a standard contracting wedge rather than expanding one.

the price has managed to hold above the upper trend line today,
this suggests a small correction is underway here in wave ‘4’ of ‘c’ of (v).

Wave ‘5’ will step higher once more to complete wave ‘c’,
and then I will look for a reversal to begin off the top of this pattern.

Tomorrow;
Watch for wave ‘4’ and ‘5’ to finish in the next few days.
A break back below the rising wedge will indicate a reversal is beginning.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I am looking at todays choppy action as a part of wave [b] of ‘4’ at the moment.
The pattern made a new high today in wave (b) of [b].
So that suggests an expanded flat is underway here for wave [b] green.

I would like to see sharp drop into wave (c) of [b] tomorrow in this scenario.
and I will look for the larger wave ‘4’ to continue higher later in the week.

Tomorrow;
Watch for wave (c) to continue lower towards the 67.00 level to complete an expanded flat wave [b] green.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has not broken to a new high today,
so the main pattern is still viable however small the probability of this wave (ii) lower high is now!

I can’t be too annoyed if the market does break out to a new high in wave (v).
that alternate count has been a possibility for a while now,
and the market is only a matter of a quick spike rally from invalidating the main count here,
I will swallow my pride again tomorrow if that happens.

Tomorrow;
I await the judgement of the market!

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am looking at this pattern off the wave [ii] lows today I can see a clear three wave rally in a channel now complete.
the price hit the upper channel line at the high today.
and there is a possibility that this is actually a three wave rally in wave (b) of [ii].
I will leave this as a low probability at the moment,
we will see how the market turns into wave ‘c’ later this week to judge between the three competing patterns now.

Tomorrow;
Wave ‘c’ has yet to begin,
I am looking for a drop below 30.00 again to signal wave ‘1’ of ‘c’ has begun.