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

A very interesting take on things.

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Still tracking five waves up in wave ‘v’ of (v) of [i] today.
So far the price has dropped off the top of wave ‘3’ of ‘v’ and created a three wave pattern.
Wave ‘4’ should be done after this decline.
And wave ‘5’ up will complete the larger pattern as shown back above 1.1572 in this scenario.

Tomorrow;
Watch for wave ‘iv’ to hold at 1.1265.
Wave ‘v’ will complete with a pop to a new high as shown.
And wave (a) of [ii] should begin from there.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A similar pattern in cable is now closing out here.
A five wave pattern in wave ‘v’ is well underway.
Three waves down today is labelled wave ‘4’ of ‘v’.
And wave ‘5’ of ‘v’ will then top out with a pop above 1.3424 to complete.

Tomorrow;
Watch for wave ‘v’ pink to complete its five wave internal pattern as shown.
And from there I will look for a reversal off the top to begin wave (a) down.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY now refuses to hit the minimum target for the new wave count today!
This pair is acting completely independently of my suggestions these days!

Wave ‘v’ of (v) of [c] of ‘2’ should break below 139.58 at a minimum.
That level marks the low of wave [a].
And once we get below that level I will begin to look for a rally over the coming few days to begin the turn higher into wave [i] of ‘3’.

Tomorrow;
The minimum target at 139.58 is the target.
Wave ‘v’ may need to go lower again to complete five waves down itself.
We will see how it goes.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Given the action over the last week I am going to look a little harder at the current alternate count
So I am starting on the 4hr chart tonight.

I have filled in the possible alternate count for wave ‘A’ and ‘B’ of (A).
Three waves down have completed in wave ‘A’ at the recent lows.
The market is currently rebounding in three waves to a lower high in wave ‘B’.
Wave ‘B’ is over half way complete after todays action.
Wave [a] and [b] are now in place and wave [c] will run higher in five waves as shown.

The minimum target for wave [c] and wave ‘B’ lies at about 41000 again.
That will break the wave [a] high and bring us very close to a 62% retracement of wave ‘A’ at 41800.

In the alternate count there is a chance that this week will be dominated with a rally in wave [c] towards that target area.

Tomorrow;
The main count on the hourly chart is suggesting wave ‘i’ and ‘ii’ of (iii) is underway here.
Wave ‘ii’ should complete a lower high near 39700.
And from there wave ‘iii’ of (iii) will turn lower quite powerfully.
A break below that wave ‘i’ low at 37820 will signal that wave ‘iii’ is underway.

A break above the previous wave [iv] high will trigger that alternate count.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

There is literally not a moment to rest in the gold markets these days.
There is also precious little stability or surety here either!

It is a case of here today and gone tomorrow now,
the price has dropped quite hard off the highs at wave (v) of [v].
While I am looking for something much bigger to confirm a turn into that large degree wave [4].
If we see a break of the previous wave (iii) high at 3170 that will go a long way to confirming that turn.
A break of that level will rule out the alternate count on the 4hr chart also.

Tomorrow;
Watch for this turn lower to continue towards support at the wave (iii) high.
If this decline is impulsive,
a break of the wave (iii) high can be achieved by the end of the week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Here is another take on the short term pattern in crude tonight.
This idea may be a stretch,
but in principle there is nothing wrong with it.

The correction higher into wave ‘4’ is now labelled as complete,
or at least very close to that point.

There are three waves up in place at todays highs.
With wave [c] of ‘4’ tracing out an ending diagonal pattern.
And if this pattern is correct,
then we will see a decline in five waves into wave [i] down over the coming week.

Last nights count for wave ‘4’ can still happen.
That count requires a decline into wave [b] of ‘4’ beginning this week.

but even in that scenario we should see a decline happen.
So it is essentially the same call for the short term.

Tomorrow;
Watch for wave [i] down to fall in five waves to break below 59.00 again.
This will be the beginning of wave ‘5’ down.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I have expanded the count for wave (iii) blue tonight.
The low last night is labelled wave ‘i’,
and wave ‘ii’ has now rebounded to a lower high.
wave ‘iii’ of (iii) must turn lower before the end of this week if this count is correct.

Tomorrow;
watch for a turn lower in the market again in wave ‘iii’ of (iii).
A break of 5100 again will signal wave (iii) is in play.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am still waiting for a reasonable attempt at a reversal in silver into wave ‘i’ of (iii).
The market has essentially gone sideways this week.
with another possible top in wave ‘c’ today,
and a drop off the high this evening to suggest wave ‘i’ is opening up again.
I am looking for a drop below 31.00 again in wave ‘i’ pink to form over the rest of this week.
and from there wave ‘ii’ will form a lower high next week.

Tomorrow;
Watch for wave (ii) to hold at the session highs and wave ‘i’ to drop impulsively towards 31.00.