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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A small slide off the wave ‘b’ high today gives a boost to the current wave count.
This corrective pattern requires that wave ‘c’ of ‘iv’ break the wave ‘a’ low at 1.0820 at a minimum.
Once this happens,
then I will look for wave ‘v’ to turn higher again as shown.
This was a good first step into the correction but there is more needed.

Tomorrow;
Watch for wave ‘c’ to break 1.0820 to complete the correction in wave ‘iv’.

GBPUSD

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GBPUSD daily.

Cable bounced this evening to meet the upper trend line of the wedge again.
This move is still within the bounds of the the pattern for wave ‘5’ of ‘v’ of (iii).
So I am still expecting a turn into wave (iv) over the coming few days.
But this final push higher into wave ‘v’ must complete first.

Tomorrow;
This wedge pattern does not require much more upside to complete at all.
The sooner we see a rejection of this rally the better.
Watch for a drop out of the wedge and a break below 1.2900 again to signal that wave (iv) has begun.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Well,
something shocked the market in the last hour to cause a sharp spike lower.
The rally reached up to meet the initial resistance this afternoon,
and then the spike happened.
So,
as it stands the price has not managed to break that first resistance,
you might even call that a complete rejection.
So I am going to have to wait and see how this plays out to see if USDJPY can recover and continue higher to confirm the larger pattern.

Tomorrow;
Watch for wave ‘i’ to turn higher again and aim to break 151.38 at the previous wave ‘iv’ high.

DOW JONES.

DOW 1hr.

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DOW daily.

The market got hit by that very same shock this evening and that seemed to bring forward the rally in wave ‘c’.
But now we have a reversal off the session high as I write.
Todays top is still viewed as wave ‘b’ of ‘b’,
but we will see how this develops early tomorrow.

Tomorrow;
As it stands the correction in wave ‘b’ pink is still ongoing.
Wave ‘c’ of ‘b’ should create a higher low as shown.
And wave (ii) will complete somewhere near the 50% retracement level at 42850 after a rally in wave ‘c’.

GOLD

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GOLD daily.

It’s like waiting for a bus that will never come this week as gold continues to top out in wave (iii) blue.
And wave (iv) seems like a fantasy!
There is a clear five wave pattern in place for wave (iii) here.
and wave (iv) is only calling for a drop into 2980 to complete.
But there is no sign today that this market is turning.

Tomorrow;
Wave (iii) is already overextended,
so wave (iv) should begin before we close out this week.
Watch for a drop back below 3000 in wave ‘a’ of (iv).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

crude is creating a possible lower high in wave (ii) at the moment.
I have labeled todays top as wave ‘a’ of (ii),
with wave ‘b’ and ‘c’ yet to come later this week.
And that will open the door to wave (iii) down to begin early next week.

As long as that wave [iv] high holds at 68.51,
then we are on track for a drop in wave [v] towards 64.00 in the coming week.

Tomorrow;
Watch for wave (ii) to complete a three wave correction below the wave [iv] high.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Wave ‘b’ of (iv) is still on track tonight after a small spike this evening.
I am suggesting an expanded flat correction for wave ‘b’ now,
and wave ‘c’ of ‘b’ will fall back to 5576 to complete in the next few sessions.
Then wave ‘c’ of (iv) can turn higher again next week as shown.

Tomorrow;
Watch for wave ‘b’ to complete an expanded flat pattern with a drop into 5576 as shown.
The low at wave (iii) must hold as this correction continues.

SILVER.

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SILVER daily.

I am looking at a slightly different pattern for wave ‘iv’ of (c) after todays choppy action.
I would like to see wave ‘i’ just take over from here,
but that is not likely given the choppy action.

The low of todays session has completed a running flat correction in wave ‘iv’.
and now we have a small bounce to begin wave ‘v’.
wave ‘v’ must complete below 34.85 soon.
And then wave ‘i’ down must take the price lower again.

Tomorrow;
Watch for wave ‘v’ of (c) to complete this rally and the correction in wave [ii].