Good evening to you all,

the Lord’s blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has fallen today off a possible wave (iii) high at 1.1122.
I view this decline as wave (iv) of [i].
So we need another rally tomorrow back abvoe 1.1122 to complete five waves up in wave [i].

Tomorrow;
Watch for the wave (i) high to hold at 1.0931.
Wave (v) should turn higher overnight.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is still holding near the lows at 1.3083 today.
The price action is not impulsive off the wave ‘4’ low.
So it is likely that we will have to wait for another low to form before wave [c] of ‘4’ is complete.

Tomorrow;
Watch for wave ‘v’ pink to fall into the low 1.30 handle to complete an extended structure in wave (c).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY made another attempt to break the wave [b] high at 116.32 today.
So far the pair has failed twice below this level.
This does raise some questions regarding wave (ii).
As I am not sure if wave (ii) is complete at 115.55.
The relative size of the correction is quite small compared to wave (i).
Todays action may be hinting at a larger correction forming in wave (ii).

Tomorrow;
If 115.55 breaks, that will signal wave (ii) is going to form a larger corrective pattern.
However,
a continued rally back above 116.32 again will signal wave (iii) is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

It seems that the Dow is just sitting in limbo at the moment
without any major compulsion to go in any direction.
This market is going to keep me guessing for another few days I suspect.

I can not rule in or rule out either count either today.
The market has basically formed another higher low above the wave ‘b’ low at 32332.
And unless there is a drastic selloff tomorrow,
then the main count is still in charge.

Tomorrow;
There is a possibility that wave ‘c’ is moving higher in an ending diagonal formation here.
that pattern does explain the choppy nature of the rally so far.

Watch for wave ‘c’ to continue higher towards the target at 34200 to complete three waves up in wave (ii).

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The price is correcting higher today in a possible wave (b) correction as shown.
This pattern should complete three waves up by tomorrow evening.
And then I will be looking for another acceleration lower into wave (c) early next week.

Tomorrow;
Watch for wave (b) to complete in the area of 2020.
A break below 1969 again will signal wave (c) is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has traced out what seems like a three wave rally to forma lower high again today.
This correction is viewed as wave (iv) of [iii] at the moment.
It is encouraging that todays rally held below both previous ‘1’ waves off the top.
And this afternoon the price is falling again into a possible wave (v) of [iii].

Tomorrow;
Ideally the stepped decline scenario will continue to complete a large degree wave ‘1’ down by early next week.
So there is time yet for this count be invalidated!

Watch for wave (v) of [iii] to complete with a break of 101.26 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am in a similar limbo with the S&P today also.
The market has failed to favor either of the counts today.
And with that I will just have to wait and see where the early action goes tomorrow in order to pick a favorite.
I will honestly say that it is a pretty close 50/50 spilt between both counts now.
If the price spikes back above 4300 again,
that will favor the main count for wave ‘c’ of (ii) as shown.
And on the flip side,
if we see a sharp move lower to break 4140 again at wave ‘b’,
that will signal that wave ‘iii’ of (iii) is kicking off.

Tomorrow;
Watch for a break out of no-mans land between 4300 and 4140 to signal which count is valid here.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver did break above the wave (i) low at the session higher today.
This action does narrow the possibilities for the main count now.
If I stick with the idea of an impulsive pattern lower in wave [i],
then the only pattern left for consideration here is a leading diagonal.
In that case the overlap between waves (i) and (iv) is not a problem.

Tomorrow;
I want to see a clean break below 25.29 again as wave [i] completes.