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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A pretty quiet day in EURUSD today and with that came a very choppy and corrective looking rise.
I am still plotting that five wave decline off the wave [iv] high,
and todays action is viewed as a small correction within wave ‘iii’.
If this count is correct,
then there is more downside ahead and a break of 1.1285 should complete wave (i).

Tomorrow;
Watch for another two steps lower to complete waves ‘iii’ ‘iv’ and ‘v’ of (i).
The high at 1.1389 must hold.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The price has traced out a three wave move higher off Tuesdays lows.
I know the pattern in wave ‘i’ is not ideal,
but a corrective lower high does suggest at least another decline is coming our way.
And in this scenario,
I can view that next leg down as wave ‘iii’ of (i).

Tomorrow;
Watch for wave ‘ii’ to hold this lower high and then decline impulsively again into wave ‘iii’ of (i) by tomorrow evening.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is close to completing a higher low in wave (b) this evening.
The price may dip once again to complete wave (b),
but so far the overall pattern for wave (b) is intact,
and I suspect wave (c) should begin by tomorrow evening and then push towards 115.50 again to complete wave [b].

Tomorrow;
Watch for wave (b) to hold above 113.47.
Wave (c) up should break above 115.07 at a minimum.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The dow has failed so far to break out of the lows of the week.
the price remains pinned to the lows created in the overnight session.
This low does mark the 78.6% retracement of the previous rally marked wave (i),
so the wave (ii) count still holds at this point.
The real question is will the market break support at 34665.
A break of that previous fourth wave low will really shake up the short term count.
If that wave [iv] level breaks,
that will favor the idea that the recent high is in fact all of wave [v] in place already.

Now that will be interesting indeed!

Tomorrow;
It is critical for this short term count that wave [iv] holds at 34665.
Lets see if wave ‘i’ of (iii) will reverse to the upside
and call a halt to the bearish alternate count.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Todays sharp rally in gold is viewed as wave ‘iii’ of (c) of [c].
So the pattern is developing nicely at the moment.
We should see a complete five wave rally in wave (c) over the coming few days.
The sharp rise today should correct into wave ‘iv’ of (c) beginning tomorrow.
And wave ‘v’ of (c) should complete by Fridays evening.

Tomorrow;
watch for wave (c) to continue higher in waves ‘iv’ and ‘v’.
I would like to see wave ‘iv’ hold above the wave (a) high at 1828 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is stalling at the highs today and I do want to see a reasonable decline into wave [iv] over the coming days.
The previous fourth wave lies at 81.00 and that is the initial target for a three wave decline in wave [iv].
I am just going to have to wait for the pattern to clear up a little before making any predictions for the next highs in wave ‘3’ and ‘5’.
If this count is correct,
we will see a sideways ranging market for the next few weeks and then a sharp rise to complete wave ‘5’ of (5) again.

Tomorrow;
If this decline continues tomorrow,
then we will likely see a three wave pattern develop into wave [iv] next week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P can be viewed as a series of 1,2 waves developing to the downside after todays action.
I have shown this idea as the alternate count now.
The main count is a valid interpretation at the moment,
although I would like to see a break below 4500 again to really give this bearish interpretation a boost!

Tomorrow;
The low of wave ‘1’ of ‘iii’ lies at 4616,
as wave ‘iii’ continues I want to see that level hold and a complete five wave pattern lower to complete in wave ‘iii’ this week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Is this a blow off fifth wave forming now in wave [c]?
The price has broken above the upper trend channel line again,
and this action does complete three waves up overall in wave ‘B’.
So,
the next big move in silver should be to the downside in wave ‘C’ towards that 18.00 level again.
Wave ‘C’ should trace out five waves down over the next month or so.
And when that completes,
I will be very happy to call an end to the larger wave [2] correction.

Tomorrow;
Wave ‘B’ should form a top over the next two sessions.
Wave [i] of ‘C’ will be confirmed with a break of the 22.80 level again.