Good evening to you all,

the Lord’s blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

After hitting a low at 1.1057 today the price is now beginning a rebound.
I cannot say if the final low is in for wave (v) of [v] yet,
but there is a reasonable five wave pattern now complete into the low today.
And if we see a further rise tomorrow to break back above the 1.1300 level again,
that will support the idea that wave [v] is done.

Tomorrow;
watch for the low at 1.1057 to hold.
Wave (i) of [a] should rise back towards the triangle wave (iv) at 1.1235.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The price made a very slight new low below 1.3273 today,
and with that,
we do have five waves down now in place for wave (c) of [ii].
The rally back off the session low has not confirmed the low of wave [ii] is in.
But it is enough to at least consider a possible rally in wave (i) over the next few sessions.

Tomorrow;
A five wave rally to break above the wave ‘iv’ high at 1.3439 again
will be a good signal that wave ‘i’ of (i) is now in play here.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The bounds of this triangle in wave ‘4’ are tight at this late stage,
and as long as the price holds above 113.39,
then this count is valid.

The final position for wave [d] and [e] are still up in the air at the moment.
There is a possibility that the triangle is complete at the recent low of 113.39.
And this is the base case scenario now as long as that level holds.

There is also a possibility that a larger three wave structure is building in wave [d] to complete below 116.32.
This will be followed by a three wave decline into wave [e] over the coming few days.
This is the alternate count shown in red tonight.

Tomorrow;
Watch for the price to hold above 114.39.
and wave [i] of ‘5’ to rally back above 116.32 over the coming days to confirm the main count.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is now moving higher in line with a the larger wave (ii) scenario.
The market has not broken above the wave ‘a’ high yet,
so this count is not confirmed.
But I am allowing for wave ‘c’ of (ii) to hit the 62% retracement level at 34470 again,
before looking for a reversal to begin into wave (iii) of [iii].

Tomorrow;
Watch for wave ‘b’ to hold at 33110.
Wave ‘c’ should trace out five waves up and hit 34470.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Todays high hit 1950 again and that should complete wave ‘c’ of (b) as shown.
The decline off that level has not traced out five waves down yet,
so I am going to have to wait for another day at least to confirm this count for wave (b) and wave [ii].

Tomorrow;
Watch for the high at wave (b) to hold.
I am looking for a three wave decline to break 1877 at a minimum in wave [ii].
so wave (c) of [ii] has some work to do at the moment.
Lets see if we get a lower high in wave ‘ii’ of (c) by the end of this week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave ‘5’ blue is getting close to a five wave pattern now after todays trade.
the correction in wave [iv] traced out an expanded flat at the session low today.
Now we have a sharp rally again into the close to begin wave [v] of ‘5’.

Crude is really tracing out a classic blow off top as commodities like to do.
the pattern is reaching an end of its structure this week.
And we have all the fear and greed on display that one would expect at the end of a trend.
It is very reminiscent of the 2008 high now.
Do we remember what happened after oil topped that year?
Only the biggest economic collapse since the great depression!

As they say,
history does not repeat,
but it sure does rhyme.

Tomorrow;
A five wave pattern in wave ‘5’ of (5) is close to completing this week.
I will just have to wait for this final wave [v] to play out before looking for a top again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A three wave pattern higher into wave (ii) is still forming today.
the price pipped above the the wave ‘a’ high this evening,
so we have a minimum target achievement for wave ‘c’ now.
But I suspect wave ‘c’ will push above 4450 and trace out five waves up when the pattern is done.
We are not there yet according to this interpretation.

Tomorrow;
Watch for wave ‘c’ of (ii) to hit the 4450 level before topping out this correction.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I have switched to the alternate count for wave [c] this evening.
This involves a five wave pattern higher rather than the complex three wave pattern I was following previously.

You can see that the price has not broken to a new high yet,
but that seems likely tomorrow as wave (v) continues higher.
There is a possible five wave pattern in progress within wave (v) also this evening.
So if this short term count proves correct,
then we are nearing a critical high in wave ‘C’ of (B) right now.

Tomorrow;
Watch for a five wave pattern to trace out within wave (v) of [c] by the end of this week.