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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The pattern off the wave [a] high is definitely corrective to the downside.
The only problem I have with it is the size!
This decline is too small yet to be all of wave [b].

As it stands,
we do see a three wave pattern off 1.1483,
this correction is only just big enough to be wave (a) of [b].

So we need more downside this week to convince me that wave [b] is in force here.

Tomorrow;
Watch for wave (b) to form a lower high below 1.1483.
Wave (c) down should fall into the 1.1300 level by the end of the week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We have five waves down a three waves up at todays lower high.
The price has not fallen into wave ‘iii’ yet.
A break below 1.3890 again will signal wave ‘iii’ is in play.

The alternate count.
We are at an important juncture in the alternate count.
Which is best viewed on the daily chart.

The idea that the price is now tracing out a (i) (ii) pattern to the upside is still possible here.
If this count is correct,
then we should see a break above 1.3627 again by the end of the week to begin wave (iii) of [iii].
This could easily lead to an acceleration higher in a third of a third and break above 1.43 again over the coming weeks.

This count is worth keeping an eye on.

Tomorrow;
1.3627 must hold.
Wave ‘iii’ down must now fall back below 1.3358 over the coming few sessions.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am considering the alternate count in USDJPY also tonight.
In this scenario the price is tracing out a correction in wave [ii] green.
And the current high is viewed as wave (b) of [ii].
Wave (c) should fall again to break 114.13 and complete three waves down.
At that point a rally into wave [iii] should begin.

It is not possible to confirm this alternate count yet either.
A break above 115.68 again will hint strongly at that alternate.
Until that happens,
I am willing to allow the main count for wave ‘4’ to play out.

Tomorrow;
Watch for wave (iii) down to turn lower again and fall into the 113.47 area in five waves.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am still looking at a possible ‘i’ ‘ii’ wave forming off last weeks top at wave [ii].
The internal correction over the last few sessions is a triangle within wave ‘ii’.
Three waves up is now complete in wave ‘ii’,
and this evening we see a small decline off a lower high again.
This may well be the beginning of wave ‘iii’ of (i) as shown.

If the price continues lower tomorrow and breaks 34790 at the wave ‘i’ low.
that will be the initial sign that wave ‘iii’ has begun.

Tomorrow;
That wave [ii] high must hold at 35718.
Wave ‘iii’ down is expected to continue down and break 34790 again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

It seems to be a night of reconsidering the alternates again!

Take another look at the daily chart;

While I do still view this current lower high as a correction.
It is also possible in that alternate scenario that this is wave [ii] of a larger decline phase now building.
If this is correct,
then we are on the verge of a bigger drop in wave [iii] of ‘C’ dead ahead.
And wave ‘C’ can take the price down below 1500 again over the next few months!

This is worth keeping in mind.

The main count still calls for another leg down in wave [c] of ‘E’.
So that should begin soon.

Tomorrow;
watch for wave (i) of [c] to turn down in five waves and break 1800 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Todays decline is now beginning to look impulsive to the downside again.
We do not have five waves down yet,
but the pattern is not far off.
Todays lows can be viewed as wave (iii) of [i].
A small sideways correction will be ideal in wave (iv) now.
and then another drop into wave (v) before the end of the week again.
A break of the wave [iv] low at 86.00 again will be a good sign that this market is making a turn into the larger bearish pattern again.

Tomorrow;
Watch for wave [i] to continue to trace out five wave down as shown.
This pattern should be complete by the end of this week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

We don’t have much to go on yet off the wave [ii] top.
The action this week is still quite confused and choppy.
Only a strong leg down into wave ‘iii’ will really add weight to the bearish pattern now.
So that is what I am waiting for now.

It is quite likely that wave ‘ii’ is still playing out at the moment.
A three wave retracement to finish above 4540 again will be an ideal for to complete wave ‘ii’.
Then a nice strong reversal lower into wave ‘iii’ towards 4300 again will do the trick.

Tomorrow;
Watch for wave ‘ii’ to complete this corrective pattern below 4590 early tomorrow.
Wave ‘iii’ down should begin by tomorrow evening.
A break of 4445 again will signal wave ‘iii’ is underway.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave [ii] has proven a difficult correction to track over the last week.
The pattern is now a solid expanded flat correction,
and it is complete.
The price has broken above the 38% retracement level of wave [i].
and now a clear five wave pattern is in place for wave (c) of [ii].
All that is needed here is a sharp move lower to begin wave (i) of [iii].

Tomorrow;
Watch for wave (c) of [ii] to top out and then reverse into wave (i) of [iii] by the end of the session.