Good evening to you all and the may the Lord of Hosts Bless you all.

On this day the lines were drawn in the sand in the free world, and it seems like the steal is in big time!

I do not know how the next few weeks will go down, but if today is a primer, then at least half the citizens in the U.S are very angry at what has happened in the recent election.

There is a major rift now very evident in U.S society, and if this continues, it grows, and gets larger by the day.

I am praying for you guys.

Here we go.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD seems to have traced out a running flat correction into the low at 1.2265 this afternoon.
This market rallied sharply off that low,
and now wave (iii) of [v] is expected to push higher into the end of the week.

The main alternate for wave [v] is for an ending diagonal to continue higher and complete by Friday evening.
In that case,
todays low is wave (iv) of [v].

Tomorrow;
The low of the session must hold at 1.2265.
Wave (iii) should push back above 1.2400 to complete.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave ‘ii’ has traced out three waves down into the low today.
And again we see a spike out of the low of the session.
Wave ‘ii’ stands at 1.3337.
And wave ‘iii’ of (v) should push higher towards 1.3800.

Tomorrow;
Watch for wave ‘ii’ to hold at 1.3537,
and wave ‘iii’ up to break 1.3700 at a minimum.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Interesting for sure, no?

USDJPY stopped to decline today with another impulsive looking spike off the lower trend line.
This trend line marks the longer term ending diagonal wave ‘C’ in red.
And it is interesting that the price managed to find support at that level.

If we are to see a change of trend here,
then we must see a clear five wave rally take over and carry us back above 104.56 at the previous wave [iv] high.
That is going to take time to achieve.

Tomorrow;
Watch for 10260 to hold and wave [i] up to take hold over the coming few sessions.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

No luck on the bearish pattern tonight.
The market rallied hard into the upper trend line and reached a new all time high this afternoon.
This rally may not last long though if this is the final high for wave (v).

It is interesting to note that the rally in wave (v) of [v] is best described as a three wave form.
The initial move off the lows yesterday were so corrective looking
that they did fit the second wave scenario that I showed.

Although the market rallied hard today,
the pattern still looks like a three wave flat to a new high.
That is what I have shown in tonights short term chart.

Either way,
we are so darn close to closing out a very high degree pattern here,
that I do think five waves down in an almost crash like move is very likely here soon.
Much like what happened last Feb/Mar.

Tomorrow;
If we take out todays rally by the end of this week,
that will really close down any alternate bullish view on this pattern.

And to be honest,
I would be hard pressed to pull a bullish pattern from the hat here now at all!
And believe me, I have been looking at this market for long enough,
that one should have emerged by now!

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold took a hard hit today to begin a possible wave (a) of [ii] correction.
The price fell into the 1900 handle and seems to have found support at that level this evening.

If wave [ii] is going to trace out a flat correction,
then we will see a three wave decline in wave (a) of [ii].
The possible patterns are numerous though,
so we will have to wait and see now.

Tomorrow;
watch for wave (a) of [ii] to continue lower and trace out at least three waves down.

The 50% retracement level of wave [i] lies at 1861 now,
so that is the initial target for wave [ii].

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has filled the trend channel of the ending diagonal with todays rally,
and the price is falling again this evening as we approach the close.

I have mentioned the 46.00 handle as a clear signal level for the main reversal to take hold.
That remains the case this evening.

Above that, the internal wave (b) of [v] lies at 47.27.
if we see a drop below that level it will favor the idea that the top is in for wave ‘C’ and (4).

Tomorrow;
As with the stock market, we are waiting on a time bomb to go off here,
the initial move lower off these extended highs should be sharp
and large enough break the back of the recent grind higher.

Watch for wave [i] down to push lower towards the wave (b) low.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Three waves up again today into another very slight new high.
The price is retreating again this evening with a sharp spike lower to begin.

I have switched the short term count this evening to show another version of the same ending diagonal wave [v] pattern.
The overlapping and schizophrenic nature of the action over the last month cannot be ignored.
Another sharp drop off these highs will be enough to break out of this pattern and open up the possibility of a major reversal taking place.

The market is poised at one of those ‘trapdoor moments’ which can occur when the price becomes so disjointed from reality,
that a reversal can come out of the blue and wipe out 10% with ease.
Key support lies at 3551.
So watch out wave [i]!

Tomorrow;
A drop back below 3700 will break the wave ‘b’ low within wave (v).
And a break of the wave (iv) low at 3660,
will also break out below the rising trend lines surrounding this ending diagonal.

This is the scenario I am looking at now.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I have taken a look at the rally in wave ‘C’ today,
and I have shown another interpretation of the pattern.
Wave [v] of ‘C’ might be tracing out a very convoluted looking five wave pattern.
And 26.58 marks the low of wave (iv) of that wave [v] pattern.
Wave (iv) is an expanded flat in this case,
and wave (v) of [v] will make another high above 27.92 to complete the pattern.

Tomorrow;
Watch for wave (iv) to hold at 26.58 and wave (v) should make a new high.
A break of 26.58 again will signal that the market is turning into wave ‘1’ down.