Good evening folks, And God Bless you all.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Todays small rally to a new high has forced another interpretation for wave ‘B’.
No major change really,
But wave ‘B’ now seems to be moving within a zigzag pattern rather than a flat.
I still expect wave [b] to fall to a higher low in the area of 1.1800 over the next few sessions.
So I will look for that to begin tomorrow with wave (a) of [b] falling back into 1.1850.

Tomorrow;
Wave [a] must now top out and a three wave correction must now begin in wave [b].
Lets see if wave (a) can turn lower tomorrow.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Its hard to know if we have a series of impulse waves lower off the high,
or if this decline off wave (ii) is all of wave ‘i’ as shown.
If that is the case,
then wave ‘ii’ of (iii) will correct higher tomorrow.
In this case I will expect wave ‘ii’ to complete below 1.3837.

Tomorrow;
Watch for a new lower high to complete below 1.3837 in wave ‘ii’.
Wave ‘iii’ will be confirmed with a break of 1.3700 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Another step lower in USDJPY today has raised the prospect that wave ‘4’ is much more progressed than I had expected.
The main count now shows wave [c] of ‘4’ underway,
and todays decline is now labelled as wave (iii) of [c].
If this is correct,
then we will likely see a small correction in wave (iv)
and one more step lower into wave (v) of [c] of ‘4’ by Monday evening I suspect.

The first major support for wave ‘4’ lies at 108.40,
so that is where I am looking for wave [c] to complete.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The price has moved sideways again today
and I am starting to question the idea that this is a fourth wave now.
there is a miss-match between the size of wave ‘iv’ now,
and the size of wave ‘ii’.
No matter the final pattern within wave (c),
either way, we will still see another push higher into the trend line again over the coming days in wave ‘v’.
And that rally may have begun this evening.

Tomorrow;
Watch for the price to rise to a new high tomorrow to kick off wave ‘v’.
I am looking at a target area near the 78.6% Fibonacci extension at 33890 for wave (c) to finish now.
And I would like to see the wave (a) high hold at 33255.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave (c) of [iv] has reached the target level at 1755 today after a pop higher in wave ‘v’.
The overall pattern in wave [iv] is now complete at this minimum target.
And I am now looking for a new decline to begin in wave [v] of ‘C’ next week.
Wave [v] should completely retrace the correction in wave [iv],
and I am looking at the 1650 area to complete the overall correction in wave (4).
Once we see that happen,
I think we will then be at an incredibly bullish point in the gold bull market cycle.
Wave (5) up will be set to rally for a long while!

But I am getting ahead of myself a little now!

Tomorrow;
Watch for wave (c) to top out soon to complete wave [iv].
A decline back below 1730 again will signal wave (i) of [v] is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The main wave count is still in force this evening,
and I am looking for a sharp decline to begin in wave (iii) very soon.

But there is an interesting alternate pattern.
The persistent sideways action over the last few sessions,
does open up one more possibility for an alternate wave (iv) triangle.
I have shown this circled in red.

The sideways action can be viewed as a contracting triangle within the trend lines,
and that pattern should be drawing to a close this evening in a final wave ‘e’ of (iv).

This alternate pattern also calls for another drop in wave (v) of [i] to occur next week.

Tomorrow;
back to the main count.
Watch for wave ‘iii’ of (iii) to be confirmed with a break of 58.14 again.

The price must hold below 60.87 for this count to remain valid.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P broke higher out of the triangle pattern in wave wave ‘iv’ today.
The target at 4119 has not been hit yet,
but that target could be hit within wave ‘v’ even by tomorrow evening.
We will see soon enough on that one.

We are very close to a significant pattern close now,
so next week I am going to be looking for a reversal to occur off the high.
And this time I want a clear impulsive pattern lower to develop off the top.
The sentiment environment and completed pattern both point to a top in the making,
so if this is the real thing in paly now,
then the pattern off the high will confirm that fact.

Tomorrow;
Watch for wave ‘v’ of (c) to find a high in the area of the 100% Fibonacci extension of wave (a).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The incessant grind higher over the last few days now favors the alternate count for silver.
And I’m afraid this count has even more downside built into it now!

If this correction higher is only wave (ii) of [iii],
then wave (iii) of [iii] has a minimum target at 22.60,
this is where wave (iii) and (i) reach equality.
But the larger wave [iii] green should easily push below the 20 handle again.

On the larger 4hr count,
wave (C) of [2] now looks like we will hit the 162% extension of wave (A).
This level projects a low for wave (C) of [2] at 16.50.

If we hit that level,
I will be then be the biggest silver bull on planet earth!

Tomorrow;
The minimum target for wave (C) is still 21.65 at the wave (A) low,
so we have some downside left ahead of us here even in this scenario.

Watch for wave (iii) to begin with a break of 24.60 at the wave ‘b’ low.