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

I wonder how long these indicators can keep flashing red before a day of reckoning happens.

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD had a choppy enough day which changes the short term count slightly.
The price action has traced out a possible ‘1”2’ pattern off the wave ‘ii’ lows now,
And the price spiked higher to begin wave ‘3’ of ‘iii’ to finish the day.
This action is favorable to the count,
but the price has not moved out above the wave ‘i’ high at 1.0442 yet to confirm the pattern.

Tomorrow;
Watch for wave ‘iii’ of (iii) to continue higher to break 1.0442 to confirm the larger pattern.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A similar count for cable tonight.
the price action continues to build higher lows,
but without the acceleration higher to confirm this pattern in wave ‘iii’ of (iii).
If this pattern is correct,
then wave ‘iii’ pink should dominate the action this week.
And that requires a break above the wave ‘i’ high at 1.2550.

tomorrow;
watch for wave ‘iii’ of (iii) to turn higher again and break above the wave ‘i’ high at 1.2549 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Todays action has flipped the wave count on its head in USDJPY.

Lets start on the 4hr chart.
The price rallied above 153.70 which invalidated last nights count.

Now I have switched to the alternate count for wave [i] and [ii].
Wave [ii] is complete at the recent lows at 150.93.
And now I am looking higher into wave [iii] a little earlier than expected.

The hourly chart shows the three wave decline in wave [ii] complete at this weeks lows.
And from there wave (i) is now tracing out a five wave pattern higher.

Tomorrow;
Watch for wave (i) to complete five waves up near 155.87.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Market is still plagued with indecision regarding the next step here.
An early spike lower has been mostly retraced as we hit the last hour tonight.
I am waiting for a move lower to signal a move into wave ‘i’ of (iii).
and that has completely failed so far this week.
All is not lost yet.
there is 2 sessions left in the week.
And the door is still open for a more sustained decline.
So we will see soon enough.

Tomorrow;
Watch for a move below 43800 to signal wave ‘i’ is in play.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The price action in gold has been quite choppy also,
with an early decline followed by a retracement to a lower high this evening.
I am labelling this move as wave ‘1’ and ‘2’ of ‘i’ now,
but this is a speculative move I will admit.
the price must drop into wave ‘3’ down with a break of 2800 again.
and from there I will be more confident on the short term pattern.

Tomorrow;
Watch for wave ‘2’ to hold below the recent highs again,
and wave ‘3’ of ‘i’ must continue lower as suggested.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

At least one market is moving in line with the wave count today!

Crude turned lower quite sharply today with a solid retracement of the wave ‘c’ rally.
The decline is labelled as wave ‘i’ of (iii).
and wave (iii) will be confirmed with a break below 70.00 again.
that break may not happen in wave ‘i’,
but wave ‘iii’ of (iii) will definitely accelerate back below 70 and much lower if this count is correct.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to create a lower high below the wave (ii) high at 73.40.
Wave (iii) down should take over fully by next week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A small shuffle in the short term count today to include the larger degree wave (i) and (ii) waves off the top.
If this count is correct,
then we have a series of three impulse waves in place off the top.
This wave count gets very tenuous from here,
as the wave count now calls for a serious dive lower in wave ‘3’ of ‘iii’ of (iii) to prove it is correct.
There is a chance that will happen of course,
but the burden of proof is now very high indeed!

Tomorrow;
Watch for wave ‘iii’ down to drop sharply below 5900 to signal this count is correct.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver just got more difficult today with a sharp spike to form another lower high.
The rally this week is in three waves.
And wave ‘ii’ can be viewed as an expanded flat correction.
But we are flying to close to that invalidation level now to be comfortable.
Wave ‘iii’ down must begin tomorrow to stick with this idea.

Tomorrow;
Wave ‘iii’ down will be confirmed with a break of 30.97 again.