Good evening to you all, and may the Lord bless you all tonight.

This one makes me think what exactly are the CCP thinking about now?

Maybe a war is coming in Taiwan that will disrupt food supplies to the mainland, so lets stock up beforehand eh?

And we wonder why food prices are rising!

https://asia.nikkei.com/Spotlight/Datawatch/China-hoards-over-half-the-world-s-grain-pushing-up-global-prices

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

If wave ‘iii’ of (v) down is now getting started,
then todays was a pretty weak attempt at it.

I am going to be patient here as I know this sideways grind has to be resolved.
And right now it seems that the action will be resolved to the downside in wave (v) of [iii].

Tomorrow;
Watch for wave (iv) to hold at 1.1386.
Wave ‘iii’ will be confirmed with a break of 1.1271.
Wave (v) will be confirmed with a break of 1.1186.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has topped out this week at 1.3598.
I have labelled this as wave (c) of [ii] so far.
As long as this level holds,
then I can expect next week to be a solid down week as wave [iii] takes over.
At the moment the decline off wave [ii] is not ideal,
but the pattern can develop further tomorrow and easily builds into a five wave pattern lower as suggested by wave (i).

Tomorrow;
Watch for that wave [ii] high to hold and wave ‘iii’ of (i) to turn lower again.
I want to see wave (i) break the 1.3375 at a minimum.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has formed a very small three wave decline off that recent top in wave (iii).
The relative size of wave (iv) is a little small compared to wave (ii),
so there may be more to come in wave (iv).
For the moment we have a three wave corrective form in place,
and this satisfies the count.
If we see a rally back above 116.35 tomorrow that will signal wave (v) is underway.

Tomorrow;
Watch for wave ‘i’ of (v) to push higher to begin the larger wave (v).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am proposing a slightly different count for the Dow tonight after the price fell today and invalidated last nights count.

If you look at the 4hr chart you can see a triangle for wave [iv] green.
And this is followed by a standard five wave rally into wave [v] that we are tracking now.
Wave [v] will reach 50% of wave [i] at 37270,
so that is a good initial target for this run to finish.

The hourly chart expands wave [v] green.
You can see this weeks action has is tracing out a series of fourth and fifth waves.
With todays lows viewed as wave (iv) of [v].
Wave (v) of [v] should begin tomorrow and then push into that initial target area at a new all time high.

Tomorrow;
Watch for wave (iv) to complete a low above 35570 at the wave (i) high.
Wave (v) should not take too long to hit that target area it may even be done by tomorrow evening!

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

At the moment we have a three wave decline in place into this evenings lows.
the price has broken below the wave (i) level now,
so that does suggest wave (iii) is now underway here.
Wave (iii) should continue lower for the next few days and the 1750 area looks like a good target area for this wave to complete.
A break of 1751 will rule out the alternate count for wave (E) of (4).

Tomorrow;
Watch for wave ‘iii’ of (iii) to continue lower and make good progress towards that 1750 area
I would like to see the price hold below 1800 as wave [c] continues.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has not made any attempt to turn lower yet,
so at the moment it seems that wave [v] is still in force here.
The pattern in wave [v] has filled out a little better and I think we are closer to a complete five waves up in wave [v] now.
This rally in wave (2) has now reached the 78.6% retracement level of wave (1),
so it is about time that a reversal gets underway into wave (3) down.

Tomorrow;
I want to see a reversal pattern build pretty soon here in order to keep this pattern in play.
Wave (3) down should begin next week if this pattern is correct.
So I want to see wave [i] of ‘1’ of (3) to drop and then a lower high to build in wave [ii] over the next few sessions.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Is that five waves down complete off the highs?
The pattern looks good this evening at least.

I cannot confirm if this decline is wave ‘i’ or an extended wave ‘4’ correction right now.
But if we see a corrective lower high build from here,
that will definitely favor the wave ‘i’ down idea.

A clear impulsive decline to break below 4530 again will really give the bearish outlook a boost.
If this short term count is correct here,
then we may even see that break next week.

Tomorrow;
Watch for wave ‘ii’ to form a corrective lower high in three waves.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The action today has tipped the scales in favor of the bearish alternate count.
And now I am showing a fleshed out short term count for that idea.
If this count holds true,
then we should see continued declines next week.
And five waves down in wave ‘C’ will fall into that 18.00 handle with ease over the coming weeks.

I have shown todays drop as wave ‘i’ of (iii).
wave ‘ii’ may form a lower high again tomorrow
and that must be followed by an impulsive decline again in wave ‘iii’ of (iii) next week.

Tomorrow;
Watch for wave (iii) to trace out five waves down and break 21.40 over the next few days.