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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I spoke too soon last night!
the action today has pretty much ruled out the idea that wave (iv) is done.
There is a bigger pattern in play here now.
I am going to keep this as simple as possible,
a larger three wave correction in wave (iv).
And the current action is part of wave ‘b’ of (iv).

Tomorrow;
Watch for wave ‘b’ to trace out a three wave pattern lower to break 1.0460 at a minimum.
Then I will look higher again into wave ‘c’ next week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am expanding the count for wave ‘b’ pink tonight after the price rose to break above the wave ‘a’ high today.
Wave ‘b’ is now viewed as an expanded flat correction,
and wave ‘c’ of ‘b’ should fall into 1.2600 again to complete the internal correction in wave ‘b’ of (iv).

Tomorrow;
Watch for wave ‘b’ of (iv) to complete an expanded flat correction as shown with a break of 1.2600.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has turned lower off the wave (iv) highs at 151.24.
The action has not confirmed that wave (v) is underway just yet,
but if we see a break of 149.00 overnight,
that will signal wave (v) has begun.
I am looking for a low in wave (v) below 147.00 to complete a five wave decline in wave [i] green.

Tomorrow;
Watch for wave (iv) to hold at 151.24.
Wave (v) must continue lower in five waves to break 148.67 at a minimum.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

At this point the market is playing everyone for a fool.
The market is now holding sideways for 10 days.
it is hard to call this anything other than a correction at this point,
but the action should prove that point with an extended new high.
But,
there is no appetite do push higher either.
It seems we have reached an impasse, where reality and fiction meet,
the population is choosing between blissful ignorance or a wake up to reality.
The average stock has backed off at this point and in-fact it has sold off all week.
there is precious few names holding up the stock market in general.
There will come that point where the marginal buyer will disappear,
and that will be it.
The market will turn.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has turned lower off a possible wave ‘2’ lower high today.
There is no acceleration lower as you might expect,
the price has dropped to meet the wave ‘1’ low this evening.

but I am willing to wait and see if a break below 2600 happens,
and in that case,
we can look for wave ‘iii’ pink to carry the market lower into the larger pattern.

Tomorrow;
Watch for wave ‘3’ of ‘iii’ to break 2600 and then extend below 2550.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave ‘ii’ of (iii) is still in play tonight after a flat trade today.
I am looking for a pop into the 69.10 area to complete three waves up in wave ‘ii’ as shown.
Wave ‘iii’ down must then carry the price lower towards 66.60 again if this pattern holds up.

Tomorrow;
Watch for wave ‘ii’ to complete above 69.00.
and then wave ‘iii’ of (iii) must turn lower again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P hourly bars are so weak in breadth in the S&P that I really find it hard to understand that the market is able to hold up here.
it is as if the market is lifting a dead weight while stretching off the edge of its chair.
The range of each bar this week was almost programmatic,
there is no human emotion on display here,
it is robobuying,
and I suspect the human buyer has put his feet up with a cup of tea and slipped into in a state of semi-coma.

Tomorrow;
Will there be a reckoning for this sleepwalking?

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am flip flopping between counts for wave (ii) this week.
The action today seems to favor the alternate count again,
and so I have switched this evening.

I am looking for an end to this rally with a break of 31.53 in wave ‘c’ of (ii).
and then wave ‘i’ of (iii) should turn lower again as shown.

Tomorrow;
Watch for wave ‘c’ to complete and then we should see a turn lower again into wave ‘i’ down.