Good evening folks, the Lords Blessings to you all tonight.

An early update for you tonight, I have a little family business tonight that will keep me from updating later.

So I am updating with a video and charts early this evening, and I will be back tomorrow as normal.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has retraced bout 30% of the decline off the high.
There is a good chance that the pattern off the high is a small impulsive wave lower,
but we need some follow through to the downside to confirm that.

Tomorrow;
Watch for a decline below 1.1940 to signal wave [i] is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable also has that small ‘i’ ‘ii’ pattern in place off the high.
The price must fall below 1.3800 to signal wave [b] is complete and rule out a five wave pattern in wave (c).

Tomorrow;
Watch for wave (i) to continue lower and break that 1.3800 level.
1.40 must hold.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The decline in wave [c] is beginning to look like it is complete after todays spike to a slight new low.
The action I want to see now is a spike rally back above 108.90 at the previous fourth wave to signal the decline is done.

Tomorrow;
Watch for wave [c] of ‘4’ to put in a final low and then reverse higher into wave (i).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The rally off yesterdays low does look like a three wave form so far.
But the decline off the high is also more likely a three wave decline!
So we are almost stuck in the middle of a two battling forces now,
and the upper hand has not been decided.

If the price falls for the rest of the week,
then there is a chance that the pattern off the high can develop in five waves to the downside.

Tomorrow;
lets see if the market will favor the downside and shift the balance in favor of the bearish count.
I am looking at the band of support between wave [iii] and wave (b) as the first major target for an impulsive decline.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold reversed higher today and I have switched to the alternate count for wave [iv] because of that move.
This change only affects wave (c) of [iv].
And that is now viewed as a five wave rally rather than three waves as shown before.

Tomorrow;
Watch for wave [iv] to to hold below 1816 at the very upper end.
A break of 1722 again will signal wave [v] is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has turned lower again this evening but I think this is part of wave (ii) as shown.
If the price continues to accelerate lower tomorrow that will signal wave (iii) is underway.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete above 62.31 as shown.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is showing a possible ‘i’ ‘ii’ pattern off the high,
but without any acceleration lower into a third wave,
then it is impossible to call it yet.

3988 at the wave (a) high marks the most interesting level at the moment.
A break below that level will heavily favor wave [i] down.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

We have a five wave pattern higher complete today in wave [c] of ‘B’.
this action completes three waves up in wave ‘B’.
The price is now reaching the previous fourth wave high at 26.90,
and the 50% retracement level is within reach also.
This all spells reversal immanent to me!

Tomorrow;
Watch for wave ‘B’ to top out by tomorrow evening.
A break of 24.66 again will signal wave ‘C’ is underway.