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

Roses are red Violets are blue Here’s what a decade of pump by the Fed and yield-seeking speculation gets you #FedValentines are over. The error exceeds 1929, 2000, and 2007. People will be hurt, and a bubble can be sustained only by worsening its consequences. – John Hussman.

EURUSD.

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EURUSD daily.

the action today does suit the pattern showing a rally in wave (v) of [c].
While the alternate count for a top in wave [ii] is not ruled out,
it has diminished today.

Wave (v) of [c] should rally above 1.2189 to complete five waves up
and a three wave expanded flat correction in wave ‘2’.

Tomorrow;
Watch for wave (v) of [c] itself to push above the target level and then we can look for a reversal to happen once wave ‘2’ completes.

GBPUSD

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I have to re-think the final wave up in cable tonight.
I am now working on the idea that the larger wave [v] itself is an ending diagonal pattern.
Rather than just wave (v) of [v] being an ending diagonal.

This seems to fit in general,
the only issue with this pattern is the final wave (v) is not proportional at the moment.
The rally today has taken the price above the upper trend line that has been tracking the advance in wave [v].
So this fits the idea of a final throw-over to end the pattern.

Tomorrow;
If the price reverses back below the upper trend line in a sharper move.
that will indicate the end to this pattern is in play.
Watch for 1.3563 marks the previous fourth wave low.
So the main signal will com with a break of that level after a five wave decline.

USDJPY.

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USDJPY daily.

The rally in USDJPY today has brought us very near to a top in wave ‘i’ of (iii) of [iii].
There is a five wave pattern in place at todays high,
but we might see another pop overnight,
if wave ‘i’ has an extension within its third wave.

If the price pushes above the previous high at 105.76,
that will signal wave (iii) is now underway.

Tomorrow;
Watch for wave wave ‘i’ to top out possibly with a break of the top in wave ‘i’ pink.
Wave ‘ii’ should correct to another higher low above 104.40 by Wednesday.

DOW JONES.

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The DOW has hit the 50% target level
And also,
wave (c) is now just a hairs breadth below the equality level with wave (a).

Wave (c) has a clear five wave pattern within it,
and wave ‘v’ of (c) has rallied in five waves also today.
All of which point to a pattern completion.

Todays trade marks a point today where a number of relationships have reached their zenith.
I can’t say that will be enough to put a halt to this lunatic rally,
but it is definitely worth keeping an eye on this level for signs of a reversal.

Tomorrow;
Wave [v] has completed its required internal pattern now,
so I am hopeful that this week will produce a reversal pattern at a lower degree at least.

Watch for any weakness to develop off that target level at 31700.

GOLD

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Todays sideways action in gold is following a possible triangle correction
and this correction is viewed as wave ‘iv’ of (i) of [iii] down.

If this is correct,
then wave ‘v’ of (i) should ideally break 1800 again tomorrow,
and if we see a break of 1784 again that will be enough to confirm wave [iii] is now in force.

Tomorrow;
1854 must hold from now on as wave ‘C’ continue lower.

Watch for wave ‘v’ of (i) to fall again and break 1800.

CRUDE OIL.

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Crude oil is most definitely in full bubble mode along with most everything out there.
The asset which used to give an early warning signal for the stock market over the last few years,
has now left behind all semblance of reality in its wake.
But why am I surprised???

Crude exploded higher early today and it was quite the spike.
This action can be well explained as a final fifth within wave [v] green.
I have show an extension within wave (iii) this evening also,
and wave (iv) traced out a running flat.

Wave ‘v’ is close to completion for sure,
but the action off the high today is still corrective looking for now.

Tomorrow;
I will be watching this market along with stocks for a top this week.
It seems fitting that they should go together now.

Watch for an impulsive decline to develop off the highs of wave (v) this week.

S&P 500.

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Wave ‘5’ blue is now a mere 44 points below the 162% extension of wave ‘1’ after todays rally to a new high.
the price has flat lined at the highs this afternoon also,
and I have to admit,
it seems strangely fitting that at this point of absolute delusion that we are now at,
that people are happy to hold at the precise all time high
and simply drift on that plateau in tranquility.
The action this afternoon really is a sight to behold.

With that Fibonacci target only points away now,
it will be a very attractive target for the market to hit now.

Wave (v) of [v] has also broken above the 162% Fib extension level of wave (i) of [v].

Tomorrow;
Watch for wave ‘c’ of (v) to stretch towards that upper target level at about 3987.

SILVER.

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I have switched to the alternate count this evening for wave ‘2’ red.
This correction higher is still underway according to the new count.
and we should see a three wave pattern higher complete by midweek.
And that should lead to a rapid decline into wave ‘3’ of (C) later this week.

Tomorrow;
Watch for wave [c] to trace out five waves up and break 27.80 at a minimum.
the upper trend line suggests a top at about 28.50.