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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

It looks like wave ‘c’ of (c) of [ii] is still in force after todays trade.
The action today is corrective to the upside within the wave (c) decline
The overall pattern for wave [ii] is viewed as a triple combination wave.
But there is a good chance that wave ‘c’ is now ready to extend into a five wave pattern itself.
Wave ‘c’ should fall below 1.09 at a minimum.

Tomorrow;
WAtch for wave ‘b’ to hold at 1.1036.
Wave ‘c’ should continue towards 1.0900.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is heading lower today within wave ‘v’ of (c) again.
The internal pattern of wave ‘v’ is tracing out a five wave pattern,
and todays decline is viewed as wave ‘3’ of ‘v’ of (c).
Wave ‘v’ should break the previous wave ‘iii’ low at 1.2998.
And it seems quite likely that wave ‘v’ will hit 1.2900 by the time it is complete.

Tomorrow;
Watch for wave ‘3’ of ‘v’ to drop again into 1.3030 before correcting higher again in wave ‘4’.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am running out of labells to track the rally in USDJPY over the last few days.
The rally into todays high at 125.07 is really stretching the limits of even this bullish wave count.
I now have to suggest that todays highs is a blow off top scenario for wave ‘5’ of (1).
This pair has really gone too far, way too fast this week.
And I am looking for a second wave correction to begin this week into wave (2) as suggested by the longer term charts.

Tomorrow;
Watch for wave ‘A’ of (2) to fall beck towards the 1.21 area over the coming weeks.
If the high at 125.07 does hold over the coming days,
then we concentrate on at least a three wave decline into wave ‘A’.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I’m afraid there is very little to add to the conversation on stocks tonight.
The idea for a wave (ii) top is still in play this week.
All that needs to happen from here is an impulsive decline to take over into wave ‘i’.
that is my focus this week.
And I think an initial decline below the wave ‘a’ high at 34100 again should be enough to signal wave ‘i’ of (iii) is underway.

Tomorrow;
Watch for wave ‘i’ down to reverse lower and begin a five wave decline in wave ‘i’ of (iii).
That initial impulse wave down should take the rest of this week if all goes to plan.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has now fallen enough over the last two sessions for this action to favor the alternate count for wave [ii].
So I have switched to that count tonight.

You can see that I am tracking a new five wave decline in wave (c) of [ii].
and the initial move off the wave (b) high is labelled as wave ‘i’ of (c) into tonight’s lows.
Wave (c) should trace out a five wave decline over the coming week.
And I am looking at an initial target area of 1850 again.

Tomorrow;
Watch for wave (b) to hold at 1966.
Wave (c) down will be confirmed with a break of 1894,
which is the minimum target for wave (c).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is beginning to follow the pattern for wave ‘2’ a little better this week.
The price is now falling again this evening and the low for wave [b] is coming into sight again.
Wave (c) of [b] is now underway and I expect this wave to find a low near the 62% retracement level of wave [a].
That level comes in at 101.50.

Tomorrow;
Watch for wave (c) of [b] to hit that target level and complete a three wave correction.
Wave [b] should hold above 92.31 at the wave ‘1’ low.
And I suspect wave [c] will begin by midweek if this pattern continues to hold for wave ‘2’.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has tracked back close enough to the invalidation line for Fridays count that I am willing to switch to the alternate count for wave [ii] now.
This involves a complex triple combination wave.
and todays highs are now completing wave (c) of [ii] of that wave.
The recent rally in wave (c) of [ii] has brought the market back to within a 20 points of the 62% retracement of wave [i] now.
that level will now be taken to complete wave [ii] and I will then look lower again to begin wave (i) of [iii] to the downside.

Tomorrow;
Watch for wave ‘c’ of (c) of [ii] to top out very soon.
I would like to see wave ‘i’ of (i) of [iii] to fall back below 4420 again by midweek this week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has fallen line with the bearish count today and wave (i) is now close to completing.
The spike lower this evening is labelled as wave ‘v’ of (i) of [ii].
The internal pattern of wave (i) is now complete as a five wave pattern.
But I would like to see wave (i) of [iii] break 24.57 at the previous wave (b) low.
This will give a good boost to the bearish count.
And then I will look for wave (ii) of [iii] to correct higher for late Tuesday and Wednesday.

Tomorrow;
Watch for wave (i) to complete five waves down and find a low soon near the wave (b) low at 24.57.