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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The rally into wave ‘c’ fails to begin again today.
the price spiked lower to hit a new low in wave ‘c’ of ‘b’.
And now the larger pattern in wave (iv) is looking a little shaky.

I am looking at a possible triangle formed over the last few sessions in wave ‘c’ of ‘b’.
This idea suggests the spike lower as a fifth wave down in wave ‘c’ of ‘b’.
Onve this is done,
a rally should begin from there into wave ‘c’ of (iv) as shown.

Tomorrow;
I am still looking for wave ‘c’ to begin this week,
but a new low in wave ‘c’ of ‘b’ should complete before that happens.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am back to the old pattern in cable again tonight after that sharp decline has invalidated last nights count.
The high of wave (iv) is shown at 1.2809.
And now we have a five wave decline into wave ‘i’ of (v) in place.
Wave ‘ii’ will correct higher before the end of the week if all goes well,
then wave ‘iii’ of (v) will turn down again next week.

Tomorrow;
The larger pattern remains the same here,
five waves down in wave [c] of ‘2’.
And the price is now turning into wave (v) of [c].

Watch for wave ‘i’ of (v) to complete by tomorrow evening and then turn higher into wave ‘ii’.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY The price is breaking to a new high in wave (c) of [ii] this evening
and if this continues tomorrow I think we may well be looking at a new pattern in play tomorrow evening.

for the moment the main count is holding.
But I want wave (i) of [iii] to begin tomorrow in order to save the larger pattern.

Tomorrow;
Watch for wave (c) to [ii] to finally top out and then rush lower into wave (i) of [iii] again.
A break of 156.72 again will favor the alternate count on the daily chart.
And I will work from there.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A step lower this evening in the DOW is bringing the market closer to that support line at 42880 again.
the internal pattern of this decline is not yet an ideal impulse wave
but we may get there is the decline continues to break support as I have shown.
I will not that the market has now broken the previous wave (iii) high again.

Tomorrow;
My eyes are on that initial support at 42880.
A break of that level will give me hope of a reversal pattern in the making here!

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is dropping again this evening to close out wave ‘c’ of ‘b’.
The price has almost reached the target level at 2604,
and I am looking for a break below that level to complete wave ‘b’.

Wave ‘c’ should begin before the end of this week if this count is correct.
A break back above 2666 will signal wave ‘c’ is underway.

Tomorrow;
Watch for wave ‘c’ of ‘b’ to find a low in the area of 2600 to complete an expanded flat correction.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I am looking at the action this evening while scratching my head to be honest!
The rally in wave ‘v’ has failed so far,
it is not ruled out yet,
but even now the rally is failing below the wave ‘iii’ high.
so I am beginning to think there is something else going on here for wave [ii].
A running flat might fit the picture,
wave (c) will not make a new high in this scenario.

If the price continues tomorrow,
then I will have to look into that idea more seriously.

Tomorrow;
watch for wave ‘iv’ to hold at 68.82.
Wave ‘v’ must turn higher again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A sharp spike lower today makes me pause for a moment to think of a possible turning scenario here.
The action early this week sure did look corrective,
so I can’t discard the main count.

But if the decline does continue tomorrow with a break of the wave ‘i’ high at 5934,
then I will consider the options for a topping pattern again.

Tomorrow;
I have labelled wave ‘iv’ with an internal triangle wave ‘b’ today.
This does explain the action in wave ‘c’ of ‘iv’.
But the market must turn higher tomorrow to signal wave ‘v’ is underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I may get my wish for a break of support at 29.65 in wave ‘i’ pink after todays action.
Even with the new decline this evening,
I am still looking for wave ‘ii’ to begin a corrective lower high this week as shown.
A three wave rally back towards 31.00 gain will complete by midweek next week at the latest.
And then wave ‘iii’ down can move lower again.

Tomorrow;
Watch for wave ‘i’ pink to complete with a break of 29.65 and then turn higher into wave ‘ii’.