Good evening folks, the Blessings of the Messiah to you on this passion week.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

we have a small sideways correction underway today.
the price has risen in three waves off the wave (iii) low,
and I view this as wave ‘a’ of (iv).
Wave ‘b’ and ‘c’ should follow to trace out three waves up overall.
I want to see wave (iv) complete below the wave (i) low at 1.1835,
and then wave (v) should fall again towards the 1.1600 area.

Tomorrow;
Watch for wave (iv) to continue sideways.
It would be good if wave (iv) completes within the trend channel below 1.1800.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

cable is not ready to accelerate lower into a third wave just yet it seems.
So the alternate count is triggered today.
After a three wave decline yesterday in wave ‘b’ of (ii),
the price is now rising again into wave ‘c’ of (ii).
I am looking for wave (ii) to complete with a break of 1.3847 again,
and then decline into wave (iii) starting Friday.

Tomorrow;
Watch for wave ‘c’ to continue higher into the target.
We should see wave (ii) complete tomorrow.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The stealth USD rally continues today!

USDJPY rallied to break the target level for the larger wave ‘3’ blue overnight.
This level marks where wave ‘3’ reaches 162% of wave ‘1’ blue.
So we really do have a powerful move underway towards the USD as it looks like we are not yet finished wave ‘3’ yet.

Todays decline off that high has traced out a three wave pattern.
this is labelled wave ‘a’ of (iv),
wave ‘b’ of (iv) is already underway this evening.
And that wave is running up towards a double top again.
Wave ‘c’ of (iv) will likely start again by tomorrow evening and fall back into the 110.00 handle again to complete.

Tomorrow;
Watch for wave (iv) to continue for the next few sessions.
We should see another rally in wave (v) of ‘3’ begin by next Monday.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The never-ending diagonal continues one step closer to completion today!

We have a very slight lower high this evening in wave ‘b’ of (b) of [v].
I would like to see a drop in wave ‘c’ of (b) into the 32650 area.
This will retrace 50% of the rally in wave (a) and further contract the price range as we head into the top.

As it stands, wave (b) should complete this week.
And then wave (c) will dominate next weeks action.
the overall pattern in wave [v] should draw us to a top within the trend lines at about 33700 or so.

Tomorrow;
Watch for wave ‘b’ to roll over early tomorrow and then wave ‘c’ will be confirmed with a break of 32980.

GOLD

GOLD 1hr.

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GOLD daily.

Todays rally is hinting that we are closer to the bottom in this long decline than maybe I thought!
The price created a double bottom this week with wave [iii] green.
And the price rallied with some strength back above the 1700 level again this evening.
So the question is this,
is todays rally a beginning of the next up trend,
or just a fake out in wave (iv) of [v].
I am leaning in favor of one last decline into wave (v) of [v] to complete the larger pattern.
But I am not against a turn now either!

Tomorrow;
Lets see if tomorrows action brings us a corrective decline to a higher low,
or a five wave pattern into a new low in wave (v) of [v].
It is a close call at this late stage in the pattern.

CRUDE OIL.

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CRUDE OIL daily.

Crude turned lower this evening after a small correction in wave ‘ii’ yesterday.
The price action favors a decline in wave ‘iii’ of (i) now,
but we must see this decline continue in wave (i),
down into the recent low at 57.00 again.
If we break that low again,
that will be a strong signal that wave [iii] down has begun.

Tomorrow;
watch for wave (i) to trace out five waves down to break support.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A new high this evening is a signal that wave ‘iii’ of (c) is now in force.
The price created a running flat in wave ‘ii’ at yesterdays lows.
And now I think we will see a rally above 4040 in wave ‘iii’ tomorrow.
Wave (c) is still projected into that upper trend line at 4120 or so,
but once we get into that upper target area,
we will be in very dangerous territory indeed.

The major risk of a collapse is hanging over us now like a guillotine blade.
And the initial decline off the high will be very like that blade falling on the neck of the market.

Tomorrow;
Watch for wave ‘iii’ to pull out above 4000 towards the 4040 target by Friday at the latest.
If we are lucky,
we may even finish this wave (c) by the end of Fridays session.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver made a rebound higher today but the rally seems to be in a three wave pattern so far.
At this point I am counting this pattern as a correction higher in wave ‘ii’ of (v).
the price should head lower again into wave ‘iii’ by tomorrow evening.
And that wave ‘iii’ should bring us down into the 23.00 handle again.

Tomorrow;
I am not going to turn bullish on silver for a while yet I think.
The pattern down into wave (C) of [2] is just not as advanced as the correction in gold.
And I can see gold leading the way for the metals out of this long correction.

Tomorrow;
Watch for wave ‘ii’ of (v) to complete below 25.23 at the wave (iv) high.
Wave ‘iii’ of (v) will be confirmed with a break below the 23.76 level again.