God Bless you and good evening to you all!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD switched back into an impulsive downside move today.
This action has created a five wave pattern in wave ‘iii’ of (iii).
And now we are much closer to the minimum target for wave [iii] green at 1.1893.
This is where wave [iii] reaches equality with wave [i].

We should see further declines again into that support level,
after a short correction in wave ‘iv’ pink as shown.
Wave ‘v’ of (iii) will then give way to another correction in wave (iv).

The larger wave [iii] could still accelerate lower and create an extended pattern.
Keep in mind that 1.1890 is only the minimum target.

Tomorrow;
Watch for wave ‘iii’ of (iii) to find a low then correct higher again into wave ‘iv’.
wave ‘iv’ must hold below 1.2058.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The decline off the high into todays low at 1.3562 can be counted as a five wave pattern.
This includes a contracting triangle wave ‘iv’ as shown.

If this is in fact the correct interpretation,
then wave (ii) is now underway with that large spike off the low.
Wave (ii) should trace out a three wave recovery,
and complete below 1.3757.
That pattern will create a bearish impulse wave off the high and open up the trapdoor for a reversal into wave (iii) next week.

Tomorrow;
We just have to wait and see if the high at 1.3757 will hold.
Wave (ii) may even complete by tomorrow evening and then wave (iii) down will be set for next week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave (iii) of [iii] is not disappointing at all this week.

The price has now broken decisively above the equality line between wave [i] and [iii] at 105.12.
And the upper trend channel line is within reach this evening.
This action suggests we will see an even higher top in wave [iii] green when it does complete next week.

If wave (iii) completes overnight,
then I would like to see wave (iv) correct and hold above 104.96 at the wave ‘iv’ low over the coming few sessions.

Tomorrow;
Watch for wave (iii) to touch the upper trend line overnight and then correct into wave (iv) by Monday evening.
104.39 must continue to hold.

DOW JONES.

DOW 1hr.

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DOW daily.

I must admit, I am disappointed by the size of this rally off the low.
At this point there is every chance that we see a new all time high to extend the size of wave ‘5’ blue.
But I am pretty sure we are at the end of this madness now,
the pattern in wave ‘5’ just need to hit its inevitable end in one form or another.
At the moment,
it is the most convoluted fifth wave I have ever seen!
This does not augur well for the future for sure.

The current count off the low can be labelled as a three wave form in wave [ii].
If we look at wave (a) as an extended wave,
then wave (b) as a three wave decline,
and now wave (c) can still complete below the top.

There is very little margin for error on this one,
so I will just be looking to see a reversal lower in some form tomorrow to save the bearish short term count.

I have a pretty good alternate count for wave ‘5’ on the back burner,
but I will wait for this count to be invalidated first before introducing that.

GOLD

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GOLD daily.

I have shown a slightly different interpretation for wave [iii] this evening.
The acceleration lower finally came on today,
and the price extended lower in wave ‘iii’ of (iii) of [iii] today.

Wave ‘iii’ should drop a little more towards support at 1764 to complete
and then wave ‘iv’ and ‘v’ will complete the five wave decline in wave (iii).

The larger wave [iii] has a minimum target at 1719.
This is where wave [i] and [iii] reach equality.

Tomorrow;
Price must hold below 1829 at the wave ‘i’ low.
Wave (iii) should complete with a break of 1764.

CRUDE OIL.

CRUDE OIL 1hr.

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CRUDE OIL daily.

Crude rallied out of a three wave decline yesterday to push to a slight new high today.
I have labelled five waves up complete now in wave [v].
And if we see a drop off the high tomorrow in an impulsive fashion,
that will increase the probability that we are done here in wave ‘C’ of (4).

Tomorrow;
It would be great to see a reversal tomorrow that breaks the rally this week.
We need five waves down now to break under the previous fourth wave low at 51.05 over the coming week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is closing out tonight at the highs and on the verge of a new all time high again!

I would love to know what people are so bullish about,
as all I can see ahead is an absolute catastrophe for the economy.
The higher the market goes,
the lower future returns will be – its that simple.

Apparently stocks only go up,
I remember vividly being told the exact same thing about housing in 2006!
That worked out well!

Anyway;
If we are to continue with the idea that wave (v) grey is the final hurrah of an expanding diagonal wave [v] green.
Then wave (v) grey should trace out three waves to the top.
Wave (v) does look quite like a five wave pattern to be honest,
but that simply does not fit with the previous structure into this point.

I am looking at wave ‘a’ and ‘b’ now complete,
and wave ‘c’ pushing into the upper trend channel line now to finish three waves up in wave (v) tomorrow.

Tomorrow;
Watch for wave ‘c’ of (v) to push into that trend line and finish this expanding diagonal wave [v] by next week.

SILVER.

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SILVER daily.

The price did not drop as much as I expected today to complete wave ‘1’ down.
This action suggests an extended wave [iii] into todays lows.
And now a correction higher should begin in wave [iv] before completing wave ‘1’ at a lower low closer to the 24 handle early next week.

Tomorrow;
the price must continue to hold below 28.00 at the wave [i] low.
Watch for wave [iv] to correct slightly higher tomorrow and then decline again next week.