Good evening folks and the Lord’s blessings to you.

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am still not satisfied with wave ‘iv’ pink to be honest,
even though the price has rallied back to the high again today.
The size of the correction in wave ‘iv’ should usually match wave ‘ii’ in duration and magnitude
And this pattern needs one more decline to achieve that.

I can’t rule out the idea that wave ‘v’ is already underway,
but I favor wave ‘c’ of ‘iv’ to drop back first.

Tomorrow;
Watch for wave ‘c’ of ‘iv’ to fall below 1.0820 again to close out an expanded flat correction in wave ‘iv’ pink.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

cable is holding at the highs today and I am looking at a different scenario for wave ‘v’ now.
This involves an ending diagonal wedge into this highs of wave ‘v’.
There is a possible internal five wave pattern within that wedge as I write,
so we are closing in on the top here for wave ‘v’ of (iii) now according to this pattern.

Tomorrow;
Watch for the top of wave ‘5’ of ‘v’ to top out and reverse back to break 1.2862 to confirm wave (iii) is complete.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is retreating from the initial resistance this evening,
and this action does raise some questions on the strength of this reversal now.
I want to see a break above the wave ‘b’ high at 150.20 to signal that wave ‘i’ is underway,
but the rally in wave ‘i’ pink should even break above the previous wave ‘iv’ high at 151.32 in reality.
So.
while the reversal pattern is not invalidated tonight,
there is a question mark hanging over this pattern now.

Tomorrow;
A rally back above 150.20 will signal wave ‘i’ of (i) is back on track.

Wave [ii] must hold at 146.55.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow has dropped off that wave ‘a’ top again today,
and I am suggesting a possible three wave decline is building into wave ‘b’.
Wave ‘c’ of ‘b’ should complete a higher low near 41200 as shown.
And from there wave ‘c’ will rally into the end of the week to close out the correction in wave (ii) blue.
I am suggesting a top for wave (ii) near 42900 at the upper trend channel line.

Tomorrow;
Watch for wave ‘b’ to complete a higher low above 40650 as suggested.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am looking at a top for wave (iii) now after a rise in wave ‘v’ of (iii) again today.
The rally in wave (iii) has hit the 162% extension of wave (i) at todays high.
and now it is time for at least a consolidation of the recent gains.

Tomorrow;
Watch for wave (iv) to fall back in three waves to the initial target at 2978.
this level marks the previous wave ‘iv’ low.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

crude oil has dropped off today in quite a sharp fashion.
This happens just after hitting the upper channel line last night in wave (c) of [iv].
So,
I am suggesting that wave [iv] is now complete,
and wave [v] is underway.

the price should now continue lower in five waves as shown over the coming days.
the minimum target for wave [v] lies at 65.00.
And todays drop is labelled wave (i) of [v].

Tomorrow;
The wave [iv] high must hold at this weeks high.
Watch for wave (i) and (ii) to form a lower high over the next few sessions.
the larger decline in wave (iii) of [v] might begin by Friday if all goes well.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is holding below that wave ‘i’ low at 5730 again today which keeps this wave count for wave (iii) alive.
The market has put in a possible top for wave ‘iv’ now,
and dropped back into wave ‘v’.
Wave ‘v’ of (iii) must break below the recent low at 5500 at wave ‘b’,
and that area also marks the 162% extension of wave (i).
so I think we are getting near a final low for wave (iii) now and wave (iv) can correct higher again before the end of this week.

Tomorrow;
Watch for wave ‘v’ of (iii) to drop back below 5500 to complete.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I will freely admit that this wave count for wave [ii] is holding on by the skin of its teeth now!
But the price is still holding below the recent high at 34.85,
and as long as that fact remains,
then this count is valid.

The price action was primarily sideways today which has turned the momentum off the recent highs on both the hourly and 4hr charts.
There is a full five wave pattern in place for wave (c) now,
and I am looking for a drop below 32.76 again to signal wave ‘i’ of (i) of [iii] is underway.

Tomorrow;
The highs at 34.85 must hold.
wave ‘i’ of (i) must drop below 32.76 again.