Good evening folks, the Lord’s Blessings to you all.

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The undecided theme continues today with another retracement back to flat on the week.
I have switched to the alternate count for wave (ii) this evening because of that late surge.
the market only managed three waves down into that wave ‘b’ low today.
And now we seem to be moving back up into wave ‘c’ of (ii) again.

the target for wave (ii) now lies at 1.0776 at the 625 retracement level.
and once the price fills the channel in wave ‘c’,
then I will look lower into wave ”i’ of (iii) again.

Tomorrow;
Watch for this wave (ii) correction to finally complete with a rise in wave ‘c’ towards 1.0770.
1.0649 must hold for this new count to remain valid.

GBPUSD

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GBPUSD daily.

Cable also rallied this evening after that FED press conference.
And for the moment the price is holding below the recent wave (ii) high.
The knee jerk rally seems to be over now as we hit the close.

I am suggesting that the lower high just posted is wave ‘2’ of ‘i’.
Wave ‘i’ must now continue lower and break the wave ‘b’ low at 1.2448 at a minimum.
There is enough time left this week to complete wave ‘i’ down.
And then wave ‘ii’ should arrive early next week.

Tomorrow;
Watch for wave ‘3’ of ‘i’ to turn lower and break 1.2448.
1.2570 must hold.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is turning lower now off that wave (b) high.
I am looking for a decline back below the wave (a) low at 154.51.
This is the minimum target for wave (c) and wave [iv].

The alternate count here shows wave [iv] already done at that 154.51 low.
If the price fails to continue lower in a five wave pattern this week,
then I will look more seriously at that alternate count.

Tomorrow;
Watch for wave (b) to hold at 158.00.
WAve ‘i’ of (c) should fall into the wave ‘b’ lows near 155.00 to confirm the main count for wave (c) of [iv].

DOW JONES.

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DOW daily.

Well,
It’s hard to make a concrete statement on the action today.
The market is all over the place after the FED press conference.
And I am not any clearer on the main pattern here.
the market spiked higher to almost invalidate last nights count,
and now this evening the market has wiped out all the gains again.
What is going on here!
It seems the rally was not believable and a full retracement back into the bearish pattern was required!

Tomorrow;
I have labelled the action today as part of a running flat wave ‘ii’ of (v).
this requires an acceleration lower tomorrow into support at 37227 in wave ‘iii’ of (v).

GOLD

GOLD 1hr.

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GOLD daily.

A similar rally in gold has been retraced also this evening.
The lower high created is labelled as wave ‘2’ of ‘c’ of (iv).
And I am looking for a continued decline to break to a new low in wave ‘3’ of ‘c’ tomorrow.
WAve ‘3’ of ‘c’ will be confirmed with a break of 2281.
And I suspect the price will hit 2250 before correcting in wave ‘4’.

Tomorrow;
Watch for wave ‘2’ to hold at the session high.
wave ‘3’ must fall back sharply into the 2250 area to confirm the pattern.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has been emotionless today with no wild rally in the action off the FED statements.
The price fell early in the session,
and broke below the initial target level at 79.35.
This is the equality level between wave ‘i’ and ‘iii’.

We should be approaching the lows of wave ‘iii’ of (iii) now.
and we can look for a correction higher in wave ‘iv’ to begin before the end of the week.

Tomorrow;
Watch for wave ‘iii’ of (iii) to complete a five wave decline possibly near the 78.00 level again.
The next lower support lies at 76.53.
Any correction higher in wave ‘iv’ must hold below 80.70 at the wave ‘i’ low.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I thought this count was done for earlier this evening!
But it is a case of easy come easy go it seems!

Wave (iv) continues to hold at 5123.
and wave ‘iii’ of (v) should fall back into support at 4926 before the end of the week.

The final low for wave (v) of [i] can still happen this week,
but the price action is going to have to wake up and extend the pattern lower tomorrow to achieve that.

Tomorrow;
Watch for wave ‘iii’ of (v) to fall below the wave ‘b’ low at 4991 to confirm the pattern.

SILVER.

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SILVER daily.

Wave ‘c’ of (a) is still in play here tonight with the price action looking pretty corrective to the upside today.
The spike rally this evening has been retraced here also,
and I am suggesting that wave ‘5’ of ‘c’ should fall again to a new low over the next few sessions.

There is a solid support at the previous wave (iii) highs at 25.76.
and if the price falls into that area,
that will close out the channel and complete wave ‘c’ satisfactorily.
From that point I will lookin higher again into wave (b).

Tomorrow;
Watch for wave ‘5’ of ‘c’ to complete a three wave decline into wave (a) by tomorrow evening.