Good evening folks.

And God’s Blessings every single one of you again tonight.

When the stock market is front and center in social discourse, its time to run.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Another three wave rally today and another lower high to contend with!

The pattern off the wave [ii] high is now labelled as a series of descending impulse waves.
If this count proves correct,
then we will accelerate lower tomorrow into wave ‘iii’ of (iii) of [iii].
A break of 1.2050 will confirm this count.

The alternate count will be triggered if we see a break of 1.2175.

Tomorrow;
Watch for wave ‘iii’ to turn lower overnight and accelerate lower tomorrow.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has tracked higher again today further validating the ending diagonal pattern that I am working with.
Wave ‘v’ of (v) is close to hitting the minimum target at 1.3757.
Shat level should break tonight or early tomorrow.
And then I will be looking lower again to begin the next leg down.

Tomorrow;
Watch for three waves up in wave ‘v’ to complete and then reverse into an impulsive decline.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘iii’ of (i) reached above the all important 104.40 level today.
This action breaks the previous wave [i] high,
and now we have another data point in favor of a major trend change occurring in favor of the USD.

We still need a five wave rally to complete in wave (i).
which should be followed by a three wave decline in wave (ii).
That will complete a bullish impulse wave and a setup for a larger rally into wave [iii].

Tomorrow;
Watch for wave ‘iv’ to hold above 104.89 as support.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Todays rally has set wave (v) in motion for sure.
Wave (v) is again expected to trace out three waves up and hit that upper trend line.
That will complete the final leg of an ending diagonal in wave [v] of ‘5’.
And when that is done,
we can look for a sudden move to break out to the downside to begin the next big decline phase.

Tomorrow;
Watch for a correction in wave ‘b’ of (v) to fall in three waves and form higher low.
It looks like we will have to wait until next week for wave ‘c’ to come in.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold dropped sharply off that wave (ii) high today.
The price has completed a running flat correction in wave (ii)
and now we seem to be heading lower into wave (iii).

This count requires a large extension into wave (iii),
so I will not be surprised to see another lower high form before any real acceleration lower occurs.

The alternate count is still viable,
but it took a hit today with the sharp decline.

Tomorrow;
watch for wave ‘i’ of (iii) to break 1830 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The pattern completely refuses to clear up in wave ‘v’ these days.
Again we can see a three wave pattern higher,
only to be retraced by a sharp decline lower this afternoon.
So long as the wave ‘iv’ low holds at 51.40,
then we should see wave ‘v’ lurch higher in this diagonal form.

Tomorrow;
If we see a push back above 53.50 again,
that will strengthen the case for wave ‘v’ to be underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

That rapid rally occurred in the S&P also today,
and has topped out in wave ‘a’ of (v) this evening.
The price has cooled off slightly this evening
and this is likely the beginning of wave ‘b’ of (v).

The ending diagonal pattern in wave [v] did take a shot across the bow this week with that sharper than expected drop,
but the fact that wave (iv) has held above the wave (ii) low means we are still on track.

The alternate count also got a probability boost from that sharp selloff,
I am watching this next decline in wave ‘b’ to see if it develops correctively or impulsively.

Tomorrow;
Watch for wave ‘b’ to decline in three waves to about 3780 and then return higher into wave ‘c’ of (v) of [v] of ‘5’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver caught the interest of the message boards today and that brought a big rally to break out of the previous pattern.
I still think this rally fits well in a corrective wave ‘2’ as shown.
The rally came in wave [c] of ‘2’ today.
And that completes a three wave move off the wave ‘1’ low.

Tomorrow;
Lets see if wave ‘3’ can get underway and build on the decline off todays high.
A break of the wave [b] low at 24.68 will signal wave ‘3’ is in.