Good evening to one and all.

The Lord’s Blessing’s to you all again tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD turned lower today after a three wave rally in wave ‘a’ which topped out yesterday.
The price is holding at a higher low above the wave (a) low at 1.0531 this evening,
so this wave count remains valid for wave (b) again today.
The pattern now calls for wave ‘b’ to complete above 1.0531,
and then wave ‘c’ must turn higher to break above 1.0691 as the minimum target.

Tomorrow;
watch for wave ‘b’ to hold above the wave (a) low.
Wave ‘c’ should rally in five waves tomorrow and complete above the wave ‘a’ high at 1.0691.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable dropped off the wave ‘ii’ high today but the decline off wave ‘ii’ does not fit an impulsive pattern yet.
because of this I remain hesitant to call wave ‘iii’ underway here.
I will need to see a solid break below 1.1800 again to rule out any alternate pattern
and to suggest wave ‘iii’ is in play.
So far this decline looks more corrective than impulsive.
So I will hold out for another day before making a judgement on wave ‘iii’ of (iii).

Tomorrow;
The price must continue lower and break that 1.1800 handle to convince me that wave ‘iii’ has begun.
Watch for the high at wave ‘ii’ to hold at 1.2142 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘b’ managed to break above the wave ‘iii’ high at 136.92 again today.
and now I am considering an expanded flat correction for wave ‘iv’ pink.
This wave ‘b’ high should top out now,
and then wave ‘c’ must fall back below the wave ‘a’ low at 135.25 at a minimum.
I still suspect the wave ‘c’ decline will fall as far as 135.26 again before wave ‘iv’ is over.

Tomorrow;
Watch for wave ‘b’ to compelte and wave ‘c’ to fall back again to break 135.26 at a minimum.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is moving higher again after the relatively corrective action all week.
I think we can safely say wave ;c; of ‘ii’ is now in play.
And we should see a break above 33200 to complete this correction.
The 50% retracement of wave ‘i’ lies at 33500,
so I suspect we will see a top for wave ‘ii’ in that range between 33200 and 33500 by the end of tomorrows session.

Tomorrow;
Watch for three waves up in wave ‘ii’ to complete as shown.
If the market fails below 33200 and reverses into a sharp decline,
that will suggest wave ‘iii’ is already underway.

For the moment I think we can expect a top within the range between 33200 and 33500.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is moving lower in a pretty slow and steady way over the past few sessions.
I think this action favors the wave ‘b’ idea for sure.
And I am looking for another drop tomorrow to finish off a three wave pattern lower into wave ‘b’ as shown.
The low of wave ‘b’ should come in near 1820 or so if the pattern remains in proportion.
We will have to wait until next week for wave ‘c’ to turn higher again.

tomorrow;
Watch for wave ‘b’ to complete three waves down near the 1820 level again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil is really favoring that alternate count over the last few sessions,
and this evening I am going to concentrate on that alternate and see if we can nail down a point where this count will be triggered.

This alternate count shown in red boxes is in some ways a mirror image of the main count.
And it has been sitting in the background now for two weeks without being invalidated.
But now the action is beginning to bring this count to the fore.

The rally off the low at 73.85 can be viewed as a three wave pattern higher in wave (ii) of [iii].
Wave ‘c’ of (ii) is shown as a possible ending diagonal pattern,
this pattern explains the contineous overlap that occured this week.
And the highs this evening have broken above the 62% retracement level and dropped again.

There is nothing yet to prove this count is the correct idea.
But if we do see a sharp decline that breaks below 75.00 again I will be forced to switch to this count.

Tomorrow;
Lets see if the main count can hold on and be confirmed with a sharp rally into wave ‘iii’ of (iii).
Watch for that wave ‘i’ high at 76.54 to hold.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A late bounce in the market this evening has given the main count a boost now.
The lows of wave ‘b’ did break to a new low for this recent decline,
but I am suggesting that wave ‘ii’ is an expanded flat correction.
and this pattern requires a run higher to break 4018 again at the wave ‘a’ high to complete the pattern.
And once that high is in place for wave ‘ii’,
then I will turn my attention lower again into wave ‘iii’ next week.

Tomorrow;
Watch for wave ‘c’ of ‘ii’ to top out with a break of the wave ‘a’ high at 4018 by tomorrow evening.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I have shown another possible count for wave [iv] tonight which involves an expanded flat correction completed at the 21.16 top.
The market traded lower off that level today and the main wave count is holding so far.
However I will be switching to that alternate count for wave ‘C’ if the price breaks 21.16 again.
So that level is key to this wave count now.
And we must see a further decline into wave [v] tomorrow to stick with the main count.

Tomorrow;
Watch for wave [iv] to hold at 21.16.
The price must fall now in five waves to break below the 20.00 level again to confirm this pattern.