God Bless you and good evening to you all!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The pattern in EURUSD is moving along reasonably well so far
but there is always that one niggling factor in the background!

That is shown by the trend channel off the top of wave [ii] with a three wave pattern in place at the lows.
This action can be explained as a developing third wave down.
OR,
as a falling wave (b) of [ii],
with wave (c) left to rally into 1.2200 again to complete an expanded flat correction.

Tomorrow;
A decline below 1.1900 will rule out the alternate count completely,
however,
watch for wave ‘iii’ of (iii) to continue lower and hold below 1.2053 at the wave [i] low.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We have three wave lower complete at todays lows also in cable.

This action is still strongly in the correction territory at the moment.
I want to see a drop below 1.3500 to be more sure of the top in place here,
so we need to see an acceleration lower to achieve that soon.

Tomorrow;
Watch for the price to hold below 1.3700 at todays early highs.
when we start to take out the previous corrective lows,
then the pattern will build step by step in favor of the downside.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The short term pattern is holding up well this week.
It is possible that wave (iii) is complete today at the highs,
while the pattern is not exactly ideal at the moment, because we have a large wave ‘i’ in comparison to wave ‘iii’ and ‘v’.
This can be easily ‘fixed’ tomorrow with another rally to extend the pattern.

Tomorrow;
I want to see the wave [i] high continue to hold at 104.40,
If wave (iv) begins tomorrow it should be a relatively shallow correction.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well,
the short lived break of 30000 was completely shunned today with a sharp rally into a further lower high.

I can still hold the general bearish outlook without much hassle at the moment!
As we have five waves down into the lows,
and this rally was expected in wave (c) of [ii].
So long as we continue to hold these lower highs over the coming days,
then I think the market is incredibly vulnerable to a much larger decline into wave [iii].

Tomorrow;
Watch for wave [ii] to hold at todays highs.
The price should fall again tomorrow and work its way lower for the rest of the week in wave [iii] as shown.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has declined as expected today but without any real acceleration into the wave (i) pattern yet.
I want to see the price create a clear five wave pattern in wave (i) down,
and ideally we should break 1800 as this pattern completes.

If the price stays range bound like this tomorrow,
and we see a break above 1850 again that will strongly favor a larger wave [ii] pattern.

Tomorrow;
Watch for wave (i) of [iii] ‘C’ to push into the 1800 handle again to confirm that wave [iii] is now underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude traced out a nice clear impulsive pattern into the high of the session today,
and I expect this rally was enough to complete wave ‘v’ of (c) as shown.
Or wave [v] of ‘C’ as per the alternate count.

The larger pattern is now full in terms of the wave count.
And we have a generally over-bullish environment across the board here.
So its time to look for an impulsive pattern lower again to begin a larger trend chance off this wave (4) top.

Tomorrow;
51.40 becomes the first level of interest here in terms of the changing trend.
Lets see if we can fall back into the range of the triangle in five waves to signal wave [i] down is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays rally in the S&P has ruled out the alternate bearish count for now.
While we do not have a new all time high yet,
I think we can expect that this week to complete the expanding diagonal pattern in wave [v] as shown.
This weeks rally is running higher in wave (v) of [v].

This action merely postpones the inevitable for a week or so.
Wave [i] down will retrace back into the 3650 level quite quickly when it does get going.
But it looks like we will have to wait until next week for that to begin.

Tomorrow;
wave (v) looks like it could hit a new all time high tomorrow given the fact that we are holding at the highs of the session right now.

If we tag the upper trend line in wave (v),
that suggests 3900 even for a top in wave (v) of [v] of ‘5’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has come off the boil significantly today,
and the decline has all but wiped out the message board pump and dump rally.

I want to see a five wave decline off this weeks highs in wave ‘1’ of (C) for the rest of this week.
And ideally we should see a break of that 25.00 level in wave ‘1’,
in order to wipe out that spike completely.

Tomorrow;
Watch for waves [iii] to find a low soon,
and wave [iv] to complete as a small sideways corrective pattern into Thursday.

Wave [iv] must hold below 28.00 at the wave [i] low.