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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

It looks like wave ‘a’ of (ii) has traced out five waves down into the lows today.
That action suggests wave (ii) is a simple zigzag correction,
with an internal 5,3,5 pattern.
Wave ‘b’ must turn higher from here in three waves.
And I am looking at a top near 1.0500 again for wave ‘b’.

Tomorrow;
If this count holds,
then most of tomorrows trade will be a corrective move higher in wave ‘b’ of (ii).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The action in wave ‘iv’ is holding above the 1.2300 level again today and that gives the pattern breathing space to develop.
I am sticking with the flat correction idea in wave ‘iv’.
And this evening the price is turning higher again in wave ‘b’ of ‘iv’.
Wave ‘b’ will probably challenge the top at wave ‘iii’ again.
so that gives a target at 1.2520 for wave ‘b’.

Tomorrow;
WAve ‘b’ should correct higher in three waves to top out at above 1.2500 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is moving sideways again today in a corrective manner.
I am suggesting that wave ‘2’ of ‘i’ is underway here.
and this pattern will remain as long as the price holds this higher low above 153.70

I am looking for a rally into wave ‘iii’ before the end of this week in order to confirm this pattern.
So tomorrows trade is important in that sense.

Tomorrow;
watch for wave ‘3’ of ‘i’ to turn higher and target the 158.00 area to signal that wave ‘i’ of (iii) is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

So far we have a failure below the high to trigger the alternate count I spoke about last night.
The same problem remains though,
we are so close to hitting a new high,
that it seems almost inevitable now.
There is very little point in me expecting a major drop at these levels.
But I cant rule it out either.

The phrase, a rock and a hard place comes to mind.

Tomorrow;
A break to a new high will trigger the alternate count for wave [v].
A rapid drop and challenge a break of 43000 again will give some light relief!

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold finished that three wave rally to a lower high last night.
and today we see a turn lower again which is a move back in favor of the wave (i) down idea again.

We are a long way off confirming wave (i) blue at the moment.
A solid target for wave (i) blue lies at the previous wave (b) low at 2580.
I suspect wave ‘i’ of (i) should hit the previous wave ‘iv’ low at 2690.
If we see a break of that level,
then I will get serious about the larger decline.

Tomorrow;
Watch for wave ‘i’ pink to make progress lower to hit 2690.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave (b) actually created a double bottom at the previous wave [i] lows again today.
The pattern for wave [ii] is still in play here,
and I am looking for a rise in wave (c) of [ii] to break above 75.00 again as shown.
That will create a solid retracement in a second wave,
and I will then turn my attention lower into wave [iii] from there.

Tomorrow;
Watch for a five wave rally in wave (c) to hit the 75.00 handle to complete this pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The market has turned lower this evening off a possible second wave lower high.
The previous high at wave (B) is holding for now,
and I am looking for a decline into wave (i) blue from here.

Wave ‘iii’ of (i) requires a drop back below the wave ‘i’ low at 5915 again with an impulsive form to the action.
I would prefer to see a low in wave ‘iii’ near 5800 to be honest.
And that may be a tall order.
If that does happen,
then I will be very happy to hunt for wave (i) down again.

Tomorrow;
Watch for wave ‘ii’ to hold and wave ‘iii’ down to break below 5900 at a minimum.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The action today has thrown a wrench in the works!
We still have a lower high even with todays pop.
But the sooner we see a sharp drop into wave ‘iii’ the better.

If the price does break above the wave (ii) high again,
then it will be back to the drawing board for wave (ii) again.
But for now,
I am willing to give the market time to show its hand.

Tomorrow;
Watch for a possible drop in wave ‘iii’ to break 29.70 at the wave ‘i’ low again.