Good evening folks, And the Lord’s Shalom to you all tonight.

EURUSD.

EURUSD 1hr.

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EURUSD daily.

I am looking at a small three wave correction in wave ‘ii’ of (iii) today.
The price has held below the previous wave (i) high at 1.1991 again,
and with wave ‘iii’ of (iii) just around the corner,
the price looks set to roll over again this week.

Tomorrow;
Watch for wave ‘ii’ to complete three waves below 1.1991.
Wave ‘iii’ of (iii) will be confirmed with a break of 1.1835.

GBPUSD

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GBPUSD daily.

Cable is stuck within a correction at the same degree of trend today also.
Wave ‘ii’ pink looks to be tracing out an expanded flat correction that must complete below 1.40 at the very upper end.
And then we should see a sharp decline into wave ‘iii’ of (iii) over the coming days.

Tomorrow;
Watch for wave ‘ii’ to complete with a break of 1.3948 and then turn lower again into wave ‘iii’.
The larger wave (iii) in grey will be confirmed with a break of 1.3776.

USDJPY.

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USDJPY daily.

USDJPY rallied out above the wave [iii] high today and with that move we have switched the pattern in wave [iv].
While a triangle is still possible,
I now prefer an expanded flat correction as shown.
This pattern calls for wave (c) to fall below the wave (a) low at 108.33.
The previous wave (iv) low lies at 108.09,
so that level is the most likely target now.

Tomorrow;
Watch for wave (c) to continue lower for at least tomorrow session.
The wave (a) low at 108.33 is the level to watch now.

We should see wave [v] begin later in the week and head towards the target at 110.70.
This level is where wave ‘3’ reaches 162% of wave ‘1’.

DOW JONES.

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Todays highs hit the Fib target level at 32940.
This level marks the point where wave (c) reaches 100% of wave (a).
The structure of wave (c) can be read a few different way,
but I think the current labelling is correct,
as the two bigger corrections in the pattern are labelled waves ‘ii’ and ‘iv’.
Unless we see another bigger correction develop now,
then I can only deduce that we are now moving in wave ‘v’ of (c),
and that the top is very close.

Tomorrow;
Watch for wave ‘v’ to find a final high this week, preferable earlier this week.
Any fall in the stock market should coincide with a further rally in the USD.

GOLD

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GOLD daily.

Gold is still moving along correctively higher within wave [iv] green today.
The short term count shows wave (c) of [iv] underway now,
with wave (b) tracing out an expanded flat and wave (c) now moving higher in a five wave form again.

I expect wave (c) will break out above 1740 to complete wave [iv].
and later this week I will expect a decline again into wave [v] of ‘C’.

Tomorrow;
Watch for wave (c) to complete at the upper trend line with a break of 1740.
Any decline below 1699 again will suggest wave (i) of [v] has begun.

CRUDE OIL.

CRUDE OIL 1hr.

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CRUDE OIL daily.

Crude is stepping lower again today after a smaller lower high in wave ‘ii’ pink.
The pattern is suggesting that wave (iii) is now underway,
with wave ‘iii’ of (iii) expected to drop below 63.10 at a minimum.
But I suspect wave ‘iii’ should push into the 60 handle again before completing.

Tomorrow;
Watch for wave (ii) to hold at 66.40.
Wave (iii) down will be confirmed with a break of 63.10.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am really nailing my colors to the mast this week,
as I can see a top forming above our heads now in wave (c) of [v] of ‘5’.

The price is tracing out five waves up off a triangle low at wave ‘iv’ pink.
I have labelled this rally in wave ‘v’ tonight in black as you can see.
Wave ‘4’ of ‘v’ can be viewed as a simple zigzag,
with wave ‘5’ of ‘v’ now tracing out a five wave pattern itself.

Each five wave advance is happening at a smaller and smaller degree.
So the end will comquick on this one.

We have a cluster of targets above at 3982 and 3990.
The upper target at 4020 marks where wave (c) reaches 100% of wave (a).

Tomorrow;
I expect we see a break of 3990 this week in wave ‘5’ of ‘v’.
Then we will have enough targets hit and waves complete to look for a reversal pattern off the high.

SILVER.

SILVER 1hr

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SILVER daily.

Silver is still sitting at a lower high below the wave [ii] high this evening.
This can be viewed as wave (ii) of [iii].
With a further drop in wave [iii] to come this week.
A break of 26.44 will rule out this short term count and wave [ii] will then likely target the high at 26.90 at wave (iv) grey.

Tomorrow;
26.44 must hold.

Wave (i) of [iii] lies at 25.38.
A drop below that level again will signal wave (iii) of [iii] is underway.

In this case wave [iii] will push towards the 22.00 handle before the end of this week.