Good evening folks.
God Bless you all tonight.

I did not know that the market was closed today due to MLK day in the U.S.
So nothing much happened today in the charts as a result.

I will do a quick revisit tonight,
just to get up to speed before the market returns for real tomorrow.

Here we go!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave [i] down is possibly complete at todays lows.
the price has reached the low end of the previous left shoulder at the lows,
so we are in a good spot to see a correction higher to begin in wave [ii].

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am allowing for a final high in wave ‘v’ to complete a larger three wave pattern off the wave ‘iv’ low this week.#
The final high in wave ‘v’ should not reach much higher than the previous high from last week.
It is a matter of ‘the right look’ now rather than necessity.
We should see an end to this rally finally this week either way,
and then an impulsive decline into wave (i).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am looking for one more low into wave (c) of [ii] this week to complete a bullish impulse wave off the low.
The pattern in wave (b) may be moving in a triangle as shown by the alternate count,
but even so,
wave (c) should complete below 103.52 and then return higher to begin wave [iii] up.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow seems poised to make a new high in wave (v) of [v] this week.
Three waves up to break 31300 again will do the job,
and then it really is a case of look out below.
Because the danger at this point is all downside while the upside potential is very limited.

There is another trap door moment coming just like back in late February 2020.
And that should begin the new bear market decline.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has completed five waves down into the lows today.
This was followed by a rebound off the low to begin wave [ii] as shown.
wave [i] should remain in force until the middle of the week at least.
And we should see three waves up into the 1880 area to complete a bearish impulse wave.
Again,
the danger is all downside now in gold as the price action has favored the bearish count in the last few days.
It looks like we are facing a decline into the 1700’s in wave ‘C’ of (4) over the coming month.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The rally in crude is all but down now.
The pattern has pushed the envelope of wave (4) for sure,
but we are at the end of this long pattern now,
and we should expect a pretty sharp reversal off this final high to begin the next leg down soon enough.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

As with the Dow I am looking for three weaves up into wave (v) of [v] this week also.
This will complete the ending diagonal pattern that I have been following for a while now,
and we should see a sharp reversal lower off this high in wave [i] down.
This decline has every chance of beginning this week.
but for now,
I am looking for that last three legged march to the inexorable end of the line!

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am watching the formation of a bearish 1,2 pattern off the high completing this week.
The low we hit today completes five waves down in wave ‘1’ as shown,
and the spike off the low suggests wave ‘2’ is now underway.
Three waves up in wave ‘2’ will be done this week,
and then wave ‘3’ down is expected next week.
Wave ‘2’ should push into the 26.00 level at the 50% retracement level.