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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has flatlined today and we are pretty much holding the highs of last weeks rally now.
I want to see a clear three wave decline off that top at wave [a]
in order to suggest wave [b] is underway.
wave [b] should fall into the previous fourth wave at 1.1270.
So wave (a) of [b] should should break 1.1400 at a minimum I suspect.

Tomorrow;
Watch for the high at 1.1482 to hold.
wave (a) must trace out three waves down to signal the larger wave [b] has begun.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

There is a five wave pattern lower now in place off the wave (ii) high.
this does not confirm wave (iii) yet,
but it does at least signal wave ‘i’ of (iii) is in play.

Only a decline below 1.3358 will confirm wave (iii),
but this current wave count does require much more downside to remain valid here.

With that in mind,
I do have one eye on the alternate count now.
The real giveaway for the alternate count will be a three wave decline to a higher low above 1.3358.
A rally off that alternate wave (ii) low will trigger the alternate bullish count.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ pink to create a lower high again.
and then a major acceleration lower should begin in wave ‘iii’ of (iii) of [iii].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

There is no confirmation of the main count in USDJPY yet either.

The price did drop very slightly today into wave ‘i’ of (iii).
This decline is not far enough to confirm wave (iii) is underway though.
Only a break of the wave (i) low at 114.13 will confirm the main count.

If wave (iii) is about to begin here,
then we should see a clear five wave pattern in wave ‘i’ of (iii) very soon.

Tomorrow;
Watch for wave (ii) to hold at 115.42.
WAve ‘i’ of (iii) should continue lower towards that 114.13 low.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A small five wave decline into Fridays lows is now followed by a corrective rise today.
The market is working towards another lower high below wave [ii] as I write.
And if this count is correct,
then todays action completing waves ‘i’ and ‘ii’ of (i)
and this should kick off another leg down into wave [iii].

This week I will be concentrating on a five wave decline into wave (i) blue.
the target for that wave lies at the previous wave (b) low at 33730.
A break of that level will add a whole lot of weight to this count.

Tomorrow;
Watch for wave ‘ii’ to complete below 35700 tomorrow.
Wave ‘iii’ of (i) should begin and fall into the 34500 area.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold broke out of the running flat idea for wave [b] today,
and the price has now rallied back above the 50% retracement level of wave [a] at 1816.
The price action off the wave [a] low at 1780 is still pretty corrective looking to the upside,
so I am sticking with the idea that this pattern is wave [b] of ‘E’.
The price is approaching the 62% retracement level at 1825.50 this evening,
so That level now becomes the next best target for wave [b] to complete.

Tomorrow;
Watch for wave (c) of [b] to complete at that Fib target of 1825.50.
A reaction lower off that level will suggest wave [b] is done and wave [c] is underway.
A break of 1788 again will confirm wave [c].

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The decline off the top in crude is too messy so far to consider as an impulse wave down.
The pattern can easily develop into a five wave decline over the next few days for sure,
but I do not want to jump the gun here and call this top at wave (5) complete
when I do not have the required confirming price action to the downside yet.
At this point I am just going to wait and see how this plays out.
More declines tomorrow may well tip the balance in favor of the bearish pattern.

Tomorrow;
I want to see five waves down off the top to signal a turn is in play here.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is holding below the Fridays lower high again this evening.
There is a chance that this is the initial decline into wave ‘iii’ of (i) now.
If we see a further spike lower tomorrow to break below 4445 again that will suggest wave ‘iii’ of (i) is underway now.
And then I can concentrate on wave (i) down for the rest of the week.
4274 market the target for wave (i) down to hit.
A break of that wave (b) low will favor the bearish count.

Tomorrow;
Watch for wave ‘ii’ to hold at 4538.
A break of 4445 again will signal wave ‘iii’ has begun.
Wave ‘iii’ should fall into the 4350 area before correcting sideways again in wave ‘iv’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has hit the minimum expected level for wave (c) of [ii] today.
And now the expanded flat correction pattern is complete.

The price briefly broke the wave (a) high at 23.04 a short while ago,
and now the rally is cooling off again.

A sharp drop into the 22.50 level again will be a good sign that wave [ii] has actually completed now.
And if we see a break of the wave [i] low at 22.13,
that will signal wave (i) of [iii] is underway.

Tomorrow;
Watch for wave (i) to turn lower and trace out a five wave decline over the coming days.