God Bless you and good evening to you all!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD corrected only slightly in wave (ii) grey yesterday and today the price rallied again in a possible wave (iii) of [c].
At the moment the main acceleration happened in wave (i) of [c],
And wave (iii) has just about reached equality with wave (i).

So I would like to see a further rise in wave (iii) tomorrow before wave (iv) corrects lower again.

The rally off the low has only traced out three waves up so far also,
this leaves the door open to the alternate count shown circled in red.

Tomorrow;
Watch for wave (iii) to top out with another push towards the resistance at 1.2155.

If the price falls below 1.2056 again,
that will favor the alternate count.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is about as complex a pattern that I have ever seen to top out a wave.
But here we are.

The price pushed up to the upper trend line today and the price has breached that line now.
wave ‘v’ has traced out a three wave pattern into the high now,
and now I will begin to look to the downside again to break out of this rising wedge.

Tomorrow;
Watch for wave (i) to drop back off the high and fall in five waves.
A break of the low at 1.3679 will signal wave ‘i’ of (i) is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The price has dropped much farther than expected today,
and this action has put a strain on the main wave count this evening.
We have a three wave rally into the high at wave (iii),
and we need wave (v) to come in now to complete five waves up.

So far the decline off wave (iii) has traced out a three wave pattern off the high,
Wave ‘c’ of (iv) must hold above 104.39 for this pattern to remain valid.

If we see a break of 104.39 that will
suggest a series of 1,2 waves is underway here as shown by the alternate count circled in red.

Tomorrow;
watch for wave (v) to push higher in five waves to break to a new high above 105.76.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is ending the session at a new all time high again.
Oh boy,
who would have thought a depression was so good for the stock market!
But as long as we are willing to be fooled eh!

We have a three wave pattern in place in wave [v] now.
The price can drift a bit higher alright as that upper trend line is coming into view above.
This line denotes the large ending diagonal pattern in wave ‘5’ blue.
That will be the upper extent of this rally in my book.

Wave (c) of [v] will reach equality with wave (a) of [v] at 31698.
That gives us another 500 points in this rally if we make it that far.

The 4hr MACD has flatlined and topped out at a lower high below the October extreme now.
And the daily MACD has already gone negative last week.
So momentum is pointing to a developed weakness here.

Tomorrow;
Watch for wave [v] to top out in the area of 31700 where wave (a) and (c) reach equality.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

It looks like wave ‘iii’ of (c) topped out today with wave ‘iv’ underway now.
The price must hold above 1811 for this short term count to remain valid.
If we break that level then I will switch to that alternate count in red.

For the moment wave (c) seems on track to push into 1875 again in a five wave rally.

Tomorrow;
Watch for wave ‘iv’ to hold above 1811.
Wave ‘v’ will be confirmed with a break of 1850 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The rally in crude seems about as rational as that in stocks now.
But that should not surprise me really,
as the financial markets left rationality at the door a long time ago!

Five waves up in wave [v] is done now.
The patterns are looking full at all degrees of trend,
but we don’t have any sign yet of an impending reversal just yet.

On the 4hr chart the price has now touched the upper trend line of the rising channel after a five wave rally.
And we have created a double top in sentiment with the wave [iii] high.
Again another warning sign here.

Tomorrow;
The hourly chart shown five waves up in wave [v].
Any weakness off these highs will be regarded as the beginning of wave [i] down.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The price is hugging the upper trend line of this expanding wedge in wave [v] this evening.
The action is weak today but no matter,
the price is hanging on to that trend line for dear life!

We have a similar momentum story here also.
The price has reached new all time highs today amidst a backdrop of deteriorating momentum at all degree of trend.
4hr momentum has topped at a lower high below the extreme of last October,
and daily momentum is a similar story.
But of course,
there seems to be a greater fool out there,
and that is propping us up at all time highs for the moment.

Tomorrow;
In the short term,
the pattern is done and it is time to look lower for a bearish signal off the highs.

Lets see if we can muster an impulsive drop before the end of the week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver made a turn lower today without breaking the 28.00 handle yet.
And with that the short term count is safe for now!

The action has not ruled out the alternate count yet,
so I will keep following that alongside the main count.
If we see a sharp decline into the 24.00 handle over the next few days,
that will favor the alternate count and wave ‘3’ will be on the way then.

Back to the main count.
wave [v] must continue lower to break 25.87 at a minimum before wave ‘1’ completes.

Tomorrow;
Watch for 28.00 to hold again,
A break of that level will trigger the alternate count.
Wave [v] down should take us lower until Thursday now I suspect.