Good evening folks, and may the Lord of Hosts Bless your life with immense abundance.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We are still working with a three wave rally into todays highs at wave (iii) of [c] of ‘2’.
Wave [c] should trace out five waves up by the end of this week.
that gives us two more days to trace out two more waves,
to break above the previous wave [a] high at 1.2189 and complete a running flat wave ‘2’.

The fact that we only have a three wave rally so far means the alternate count is still in play also.
A sharp decline back below 1.2056 will favor the alternate count.

Tomorrow;
Watch for wave (iv) to correct in three waves.
Wave (iv) must hold above 1.2056 and then rally above 1.2189 to complete the pattern.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave ‘v’ has broken above the upper trend line of the ending diagonal pattern today.
I want to see wave ‘v’ end right now at this evenings highs,
because if we see a break above 1.3872,
then wave ‘iii’ will become the shortest wave in the pattern,
and that should not happen even in an ending diagonal.
If that level does break,
then wave ‘iii’ will have to move to the high and wave ‘iv’ and ‘v’ will be left to complete.

Tomorrow;
Watch for a rejection below 1.3872.
that will signal wave ‘v’ is complete and wave (i) down is underway.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have switched to the alternate count this evening showing a series of 1,2 impulsive waves off the lows.
The price is currently completing wave (ii) of [iii].
And we should see the price move higher over the next few sessions to begin wave (iii) of [iii].
If the price recovers all of the losses before the end of the week,
then a more substantial acceleration in wave (iii) of [iii] may be on the cards for next week.

Right now wave (ii) has retraced over 50% of the rally in wave (i),
so I want to see the price hold firm and return higher tomorrow to signal wave (iii) has begun.

Tomorrow;
Watch for wave ‘i’ of (iii) to rally in five waves again off the wave (ii) low.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow did spike lower off the all time high today.
while nothing major has happened in the action to suggest we have topped out yet,
I am keeping an eye out for a decline to begin over the next week or so.
We will see tomorrow if this move develops into anything interesting off the top.

There is still room above us here to close out wave (c) of [v] nearer the upper trend line.
So I will not be surprised to see another attempt by the bulls to reach that goal.

Also,
we have a target at 31700 where wave (c) will equal wave (a).
And wave [v] will reach 50% of wave [i] just below that level.
Maybe the cluster of Fib targets will prove too tempting not to hit at this point!

Tomorrow;
The key level below us now lies at the wave (b) low of 30518.
A break of that level will favor a top in place now.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has floundered today spending the day correcting below 1850.
I am labelling this move as wave ‘iv’ of (c),
with wave ‘v’ of (c) left to come by the end of this week.
In this scenario wave ‘v’ should push above 1875 to complete the running flat wave [ii].
And then we can look lower into wave [iii] of ‘3’ next week.

The alternate count labels todays top as wave (ii) of [iii].
A drop back below 1800 from here will signal wave (iii) of [iii] has begun.

Tomorrow;
Watch for wave ‘v’ to begin and push above 1875 to complete the pattern.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The rally in crude is dying now with wave (v) of [v] reaching the end of its run.
The price recovered yesterdays losses with a choppy move higher so far.
There’s is not much more left in this pattern now,
and I await a decline soon to signal a top is forming here.

The 4hr chart shows the price now hugging the underside of the upper trend channel line.
so it is a good time for a reversal to happen.
It is a wait and see operation here.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A new all time high and then a nice spike lower this afternoon.
This would be a dream location for a reversal to happen for sure!
But I am going to remain skeptical until we break some support levels below us now.

The first of which lies at 3870 at the wave ‘iii’ high.
then wave ‘b’ of (v) at 3830,
and most importantly the previous wave (iv) at 3659.

If all three go with a five wave decline,
that will signal wave [i] down is underway.

Tomorrow;
The price is sitting just below the upper trend line now,
so the pattern in wave [v] is filled out nicely now.
lets see if the top will hold and some momentum can be gained to the downside.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver dropped in three waves off the wave [iv] high today.
The price needs to continue lower and pick up steam tomorrow,
in order to stick with the main wave count now.

In fact,
we need to extend the losses in a big way if we look at the alternate count.
Wave ‘3’ down should bring us all the way back into the 22.00 area if that count is correct.
So we need to make some progress lower in both wave counts.

Tomorrow;
wave [iv] should continue to hold at 27.79 and wave [v] need to break 25.87.