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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The action in EURUSD is pretty quiet today as the price settles into wave 'b' pink.
The price seems to be moving into wave 'b' of 'c' right now,
and wave 'c' of 'b' should drop back into the 1.1150 area to complete tomorrow.

Depending on how quick wave 'b' plays out,
then we might see a rally to begin wave 'c' before the close on Friday.

Tomorrow;
Watch for a three wave decline in wave 'b' of (b) to complete tomorrow.
A break above 1.1267 will signal wave 'c' is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is tracing out three waves down into wave 'b' here also.
The pattern requires another drop into wave 'c' of 'b' to complete three waves down as shown.
And that will happen with a drop into 1.3220.
If that happens,
then I will look for a rally out in wave 'c' of (b) which should take us into Mondays trade at least.

Tomorrow;
Watch for wave 'b' to complete a higher low as shown near 1.3220.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am giving the previous count another try tonight to see if it is a better fit for the action.
USDJPY has not recovered from the decline over the last few days.
and the price broke the previous high in the pattern.
And this fact just pushes the pattern back in favor of the correction in wave (iv) idea at the moment.

Three waves up in wave (iv) is shown on the chart above.
And if that count is correct,
then we should see a decline off that high to begin wave (v) over the coming days.
Wave (v) will break below 139.85 in this scenario and once we get there I can consider a final low for the larger pattern again.

Tomorrow;
Watch for wave (iv) to hold at 148.66 and wave (v) to trace out five waves down from here.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well I have swapped the alternate top for wave (v) of [c] tonight.
It seems like we will have one more top to complete this rally in wave [c] after todays action.
We are not there yet,
but the form of the rally off todays low is suggesting a break to a new high will happen.

If the overall pattern in wave [c] of 'B' is an ending diagonal,
then the internal pattern of wave (v) must be in three waves.
And that suggests wave 'c' of (v) will top at a new high above 42500.
then we will see a reversal into wave (i) of [i] of 'C' again.

Tomorrow;
Watch for wave 'c' of (v) to complete wave [c] green as suggested.
And then wave (i) down will have to wait until next week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Notice today how the rally in gold happened completely apart from the USD,
in fact the rally came in lock step with the stock market!

What is going on here,
Is gold a hedge or not!

No, gold is just another chip on the roulette wheel!
When people feel gooooood, they buy the golden glitter.

People are starting to feel very bad though,
so I think the idea of a larger decline is gaining steam here to be honest.
I have shown the cot positioning above also,
this chart suggests the top is in for now,
and the market will go though a selloff cycle before setting the stage for a new rally again.

We will see,
but so far the correction pattern is corking well here.

Tomorrow;
Wave (a) of [b] has begun today with a break back above 3200.
Watch for a three wave rally overall into that wave [b] lower high to form over the coming week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

the price did not reach the 60.00 target today but the fall into that level is reasonably impulsive.
So I have labelled wave (i) complete at the lows.
And wave (ii) is now underway off that level.
We should see a three wave rise into wave (ii) to form a lower high.
and from there the price must turn down into wave (iii) of [iii].

Tomorrow;
Watch for wave (ii) to complete three waves up to a lower high tomorrow.
Wave (iii) down can begin next week in this scenario.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The action yesterday proved to be corrective and the market rallied to a slight now high today.
I am not sure how far wave (v) of [c] can go now.
the price action has fulfilled all that the pattern asked of it.
wave [c] has reached above equality with wave [a].
wave [c] has a five wave pattern in place now.
the market has gone full loola again with over optimism as you might expect at a 'B' wave lower high.
So,
where is that reversal into wave (i) to begin the next leg down?

Tomorrow;
I am now looking for nothing more in wave (v) of [c].
We will see tomorrow if the market will actually give us a reversal into wave (i) to contend with.
A drop below the wave (iii) high at 5700 will suffice.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has traced out a possible five wave drop into the wave 'i' low at 31.63 today and now we see another lower high into wave '2' this evening.
Wave '2' must hold below the wave 'ii' high at 33.22.
and the price must turn down sharply into wave '3' of 'iii' by Monday evening at the very latest.

Tomorrow;
Watch for wave '2' to complete below 33.00 and then turn lower into wave '3' as shown.