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

A quick midweek update for you all.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD continues along the path in wave (iii) today and so far the price has traced out three waves within wave (iii).
The price seems to be forming a temporary low at wave ‘iii’ of (iii) tonight.
And wave ‘iv’ and ‘v’ are left to complete wave (iii) tomorrow.

Tomorrow;
Watch for wave (iii) to complete a five wave decline and break into the 1.10 handle before wave (iv) begins.
I want to see wave (iv) hold below the 1.1200 level.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has now traced out a five wave pattern lower off the recent wave [ii] high.
Wave (i) has also broken into the wave (a) high at 1.3375 again.
So I am now expecting wave (i) to complete and wave (ii) to begin a three wave correction higher over the coming few sessions.

Tomorrow;
Watch for wave ‘v’ of (i) to complete and wave (ii) to begin a three wave correction higher.
Wave (ii) should hit the previous wave ‘iv’ high at 1.3526 as an initial target.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

We have a five wave pattern now complete in wave (c) at todays highs.
The price also broke above the wave (a) high a target at 115.07.
So now wave [b] is complete it is time to begin to look for wave [c] down to begin.

Tomorrow;
The price must hold below 116.35 at the recent top.
Wave [c] will begin with an impulsive decline below 114.00 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has completed a three wave correction in wave [ii] at todays high.
I have changed the count slightly in wave [ii] today,
I think wave (b) of [ii] is best viewed as a running flat and the rally into todays high is wave (c) of [ii].
the price has now spiked lower again off the session high at wave [ii].
And this should begin another five wave decline into wave (i) of [iii].
If this count is correct,
then we could see fireworks next week as wave (iii) of [iii] comes in.

Tomorrow;
Watch for wave (i) of [iii] to trace out five waves down and to threaten the wave [i] low again at the low 33000 area.
We should see 34800 hold from here on out if wave [iii] is now underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The extent of the decline this week is sufficient to call wave [a] complete.
There is a tight five wave pattern in place off the high.
And the break below the initial target level of 1805 again has really done as much as I had expected in this wave.
So now I think we should see a corrective rally in three waves to a lower high in the area of wave 1830 over the next week.

Tomorrow;
1782 is now offering support to this decline so I suspect wave [a] is complete here.
Watch for wave (a) of [b] to begin and move higher towards 1815 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is still holding the highs of the week at the moment,
so I don’t really have anything to go on to indicate that wave ‘4’ has begun yet.
Once we do see a drop back in the 83.00 area again that will be a good sign that wave [a] of ‘4’ is in play.
Todays small drop could be a beginning to wave [a],
but again I need more action to confirm that.

Tomorrow;
Watch for the price to continue lower in wave [a] to form at least a three wave decline off the top.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The market has reversed again this evening to begin a possible wave (v) of [i] to the downside.
This sharp spike lower is viewed as the initial move of weave ‘iii’ of (v).
So there should be more downside ahead tomorrow,
and a break to a new low in wave ‘iii’ of (v) is expected tomorrow also if this count holds.

Tomorrow;
Watch for wave ‘iii’ of (v) of [i] to continue lower and break 4220 again.
If we do complete wave [i] early next week,
then there is a good chance that we see a solid rally in three waves over the course of next wee to complete wave [ii] as shown.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The continued decline in silver today also is a good sign that wave ‘B’ has topped out now and wave ‘C’ is underway.
I have moved up the wave count today to show wave [i] now forming a low,
A possible five wave pattern lower has formed also,
so it depends what sort of reaction we get tomorrow to indicate if wave [i] is now complete and wave [ii] is beginning.
and if this is correct,
then we should see wave [ii] correct higher again next week as shown.

Tomorrow;
Watch for wave (v) of [i] to find a low and then begin a reversal higher to begin wave (a) of [ii].