Good evening folks, the Blessings of the Messiah to you this fine day.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD moved higher off Fridays lows today,
and this action solves one problem with the main wave count,
and introduces another!

Wave (iv) is now bigger and has a 3,3,5 internal structure,
so the two corrections in wave (ii) and (iv) are closer in size.

But todays rally is close to invalidating the wave (iv) idea also!
If we see a break of 1.1835,
then I will have to switch to the alternate count shown in red.

Tomorrow;
watch for wave (v) to turn lower now.
1.1835 must hold.
A break of 1.1700 again will confirm wave (v) has begun.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The alternate count in cable is shown on the hourly chart this evening.
And this count is close to taking the precedence now.
This involves three waves down in wave [a] of ‘D’ of a larger triangle.

If we see a break of 1.40 again,
that will favor the large triangle wave (4) on the 4hr chart.
And then wave [a] of ‘D’ of (4) has just completed at the recent low.

In the short term both wave counts call for a decline to begin now.
Wave (iii) in the main count,
and wave [c] in the alternate.

Tomorrow;
Watch for wave (ii) to complete early tomorrow.
Wave (iii) will be confirmed with a break of 1.3669.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY dropped into the lower trend line in wave ‘c’ today.
the target was met with a break of 110.19.
And the price has rebounded off the low of wave ‘c this evening.
At this point it is possible to call wave (iv) now done,
and wave (v) underway off the session low at 109.95

The price should hold above 109.35 at the lower end,
a break of that level will require a re-think of the short term count.

Tomorrow;
Watch for wave ‘i’ of (v) to push up towards 110.50.
The price should create a higher low above 109.95 to confirm wave (v) is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has reached another historic new high today along with the rally in wave (c) of [v].
The price just topped out this evening below the upper trend line of the ongoing wedge pattern in wave ‘5’.
Todays high is labelled wave ‘iii’ of (c),
and the correction this evening should begin wave ‘iv’ of (c).
with wave ‘v’ of (c) left to come later in the week.

This pattern in the short term wave count is fast coming to a close now.
So this weeks action should be more than enough to close out a top in wave (c) of [v] of ‘5’.
Then I begin the hunt for a turn lower again.

Tomorrow;
Watch for wave ‘iv’ to hold above the recent wave (a) top at 33255.
A drop below that level will not invalidate the main count,
but it will suggest that wave (c) is working towards a higher high.
Possibly with a throw-over involved.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The action in gold today was muted to say the least.
I expected to see some sort of reaction to the rally in stocks,
but so far the pattern in wave [iv] seems to be rolling along without much interference.

I wonder if the the current high is actually a top in wave (c) coming earlier than expected.
This would suggest wave (c) is actually a running flat with a wave [v] about to fall off this high.

If we see a drop back below 1700 again soon,
that will signal wave [v] is underway.

Tomorrow;
Watch for wave ‘v’ of (c) to complete the main count at 1755 and then turn lower into wave [v].

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil dropped sharply back below the 60 handle again today.
And this action has raised the possibility that wave (c) of [ii] completed at Fridays high at 61.76.
If this is correct,
then wave (i) of [iii] should be underway off that high.
And wave [iii] should make steady progress lower this week.

Tomorrow;
Watch for wave (ii) to trace out a further corrective lower high below 61.00 and then fall again into wave (iii) of [iii].

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

After todays rally we have a new all time high in the S&P,
and a short term pattern near to completion.

Wave (c) now has three waves up in place at todays highs in wave ‘iii’.
Wave ‘iv’ and ‘v’ are left to create one more correction and rally into the target area at 4120.

You can see that wave [v] is creating a clear three wave pattern within a trend channel.
The trend channel in wave [v] is almost filled now.
And wave (c) of [v] will reach equality with wave (a) of [v] at that target level.

I am seriously thinking that we have the potential for a top coming our way here.

Tomorrow;
Watch for wave ‘iii’ to top out and drop into a small correction in wave ‘iv’ tomorrow.
wave ‘iv’ must hold above 3977 at the wave ‘i’ high.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has failed to roll over into wave (v) today.
The price has held at within a tight range around the 24.80 level.
This action is possibly a small triangle within wave ‘c’ of (iv),
so I will just have to wait and see if we get a spike tomorrow
into 25.20 to complete this fourth wave correction.
Or,
if the price just drops sharply early tomorrow to begin wave ‘i’ of (v).

Tomorrow;
Watch for wave (iv) to top out soon.
A drop back below 24.00 again will signal wave (v) has begun.

25.82 must hold at the wave (i) low.