Good evening folks and the Lord’s blessings to you.

I am updating early tonight because of the election in the U.S.
I think no matter what I write tonight,
and no matter who wins tonight,
tomorrows trade could be wild and I may well be dealing with a few invalidations in the waves counts.
So,
it’s a case of damned if you do and damned if you don’t!

Here we go!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD climbed a little higher today in line with that wave ‘c’ idea.
I am looking for a five wave pattern in wave ‘c’ as shown,
and the target for wave (ii) remains at the 50% retracement overall at 1.0988.
If that level is hit tomorrow,
then I will look for a reversal into wave (iii) down.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete a five wave pattern at the 50% retracement level.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

In cable the count is similar.
Todays rally began wave ‘c’ of (ii).
with the session high marking wave ‘1’ of ‘c’.
Five waves up in wave ‘c’ should bring the patter into the 50% retracement level at 1.3140.
And from there I will begin to look lower again in wave ‘i’ of (iii).

Tomorrow;
Watch for wave ‘c’ to trace out five waves up as shown to break 1.3100.
the price should hold above 1.3935.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘c’ is heading lower today as suggested.
the pattern is the opposite to the Atlantic pairs in many ways.
Wave ‘c’ of (iv) is targeted towards 150.00 in a five wave decline.
And once that level is reached,
that will complete a a three wave pattern off the high and I will begin to look for wave (v) to turn higher again next week.

Tomorrow;
Watch for wave ‘c’ to continue lower to finish the larger correction at 150.00.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The action today is following the wave ‘ii’ idea so far,
but it is anyone’s guess if that will continue tomorrow after the election results are reached.

Wave ‘c’ of ‘ii’ has a potential target at 42500 at the 50% retracement level.
I want wave ‘ii’ to top and turn immediately at that level.
if the price falls back sharply,
that will suggest wave ‘iii’ has begun.

Tomorrow;
I will be really surprised if the market does not knee jerk all over the place to be honest.
So lets just see if this wave count survives tomorrows trade!

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am looking at a different possibility tonight for the pattern in wave ‘ii’ pink.
The action is almost dead in the water this week,
so it is possible that wave ‘ii’ is still in play here.
I am allowing for a run higher into 2760 again to complete an expanded flat correction.
And if that happens,
then I will look for wave ‘iii’ to begin again.

Tomorrow;
Watch for wave ‘c’ of ‘ii’ to complete at the wave ‘a’ high and then turn lower into wave ‘iii’ again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude hit the high of wave [a] again today and that is the minimum requirement for the expanded flat correction in wave ‘2’.
The test now comes for this wave count.
Wave [i] of ‘3’ should turn lower from this point.
And if that happens,
then I will be pretty confident with the overall direction of the market down into wave ‘3’ blue.
The next few days trading will reveal a whole lot I think.

Tomorrow;
Watch for wave [i] of ‘3’ to turn lower in five waves and hit the 68.00 area again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

This count is the last gasp effort at retaining any semblance of a downside bias!
And tomorrow the carpet could easily be pulled from underneath me here.
So I await the judgement of tomorrows session on this idea.

On the 4hr chart I have shown an alternate count for wave [v] green.
and If this count is correct,
we will get confirmation of it before Friday.

So as it stands,
the wave count is about to be judged.
And we will soon see the verdict.

tomorrow;
…………………….I want a sharp drop off to confirm the top is in.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is trading flat so far this week and I expect that will change tomorrow.
A sharp move higher will confirm wave ‘3’ of ‘iii’.
And in that case we can easily expect a rally above 36.00 again.

A sharp move lower will tilt the scales in favor of the alternate count on the daily chart.
So there is a lot riding on the next few sessions.

Tomorrow;
Watch for wave ‘2’ to hold at the current lows of 32.23.
A break of 34.85 again will signal wave ‘3’ of ‘iii’ is underway.