God Bless to you all tonight.

EURUSD cot situation. looks like at top for sure.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Could wave ‘B’ be a double zigzag correction higher?
That is what is looks like this evening after breaking to a new high above last weeks high.
Wave [c] of ‘B’ has come to a stop this evening after just pipping above the 78.6% retracement level.
The price is holding steady near 1.2212 this evening.
You can see the level just above that at 1.2242.
This marks the previous wave [b] high within the initial drop off in wave ‘A’.
So in terms of resistance levels within the previous structure,
this is a major one.

Tomorrow;
I am still waiting for that initial move lower into wave ‘C’ to begin.
And I think it should be strong enough not to mistake it!

Watch for wave (c) of [c] to top and turn off resistance at 1.2242.
1.2048 will mark the beginning of wave (i) of [i] of ‘C’.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is so dangerously close to breaking the invalidation for this wave [b] count right now.
1.4239 is the level to watch here,
if that level breaks then I will need to revisit the triangle count for wave (4)
and move to the alternate count for wave (4) which just involves a triple combination wave.
The alternate count for wave (4) will be triggered with a break of 1.4381 for sure.
I am in wait and see mode here.

Tomorrow;
Watch for that high at 1.4239 to continue to hold.

I will do a video tomorrow to go in-depth into the alternate count if 1.4239 is broken.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The choppy corrective drift lower continues today in wave (ii).
The internal pattern has a 3,3,5 formation,
which classifies it as a flat correction now.

The price has retraced 62% of the wave (i) rally at this low.
And given the overlapping nature of this action over the last few sessions.
I still think the balance of probabilities favors the upside into wave (iii) of [iii].

Tomorrow;
The low at wave [ii] must hold at 108.32.
Wave (iii) up will be confirmed with a break of 109.79.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Dow has traced out five waves up in wave ‘c’ of (ii) at todays top.
The price has hovered between the 50% and 62% retracement levels this week.
And again this evening we have a drop back into that range.

I can only take a drop below 33840 at the wave ‘b’ low as a signal that wave ‘i’ of (iii) has begun,
but I think that drop needs to come in very soon in order to stick with the three wave rise in wave (ii) as shown.

Tomorrow;
Watch for wave (ii) to hold at todays highs and wave ‘i’ of (iii) to drop back below 33840 again to signal the potential for a larger decline in wave (iii) this week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Across the markets there are a number upside patterns coinciding at once.
The USD is suffering a corrective decline,
and the euro and GBP are both coming to corrective highs.
The Dow may be topping at a lower high off the all time high.
And now gold is topping in a [b] wave high.

Could we see this dynamic change all at once?

Gold has reached the upper trend channel line today within wave (c) of [b].
And wave ‘v’ of (c) has reached its upper trend channel line also.

The pattern within wave (c) is pretty text book at the moment.
And given that the pattern is extended to the upside in wave (c) now,
I suspect the initial drop in gold will be sharp to begin wave [c] down.

Tomorrow;
Watch for wave ‘v’ of (c) to halt soon and wave (i) down begin with a break of 1808 again.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The rally in wave (c) of [ii] came to an abrupt halt today with an initial drop into wave ‘i’ of (i).
The price did not fully retrace the previous wave ‘iv’ low at 63.10.
But wave (i) down should break that low for sure over the coming week.

Crude has bounced back this evening close to 50% of the decline in wave ‘i’.
This should be the beginning of wave ‘ii’ now,
but I suspect wave ‘ii’ will trace out a more complex correction tomorrow.

Tomorrow;
Watch for the high at 67.00 hold now as the top of wave [ii] green.
Wave (i) of [iii] down should fall and break 63.10 at a minimum.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is looking like we are completing that three wave up pattern now.
The high of the session reached the 4183,
and now the price has put in a small double top and a lower high.
The next step here is for wave ‘i’ of (iii) to carry back below 4086 again.
I would like to see wave ‘i’ and ‘ii’ track lower over the next two sessions and forma bearish lower high below 4183.
That action will signal wave (iii) down is getting underway.

Tomorrow;
Watch for wave ‘i’ of (iii) to head towards 4086 at the wave ‘b’ low.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has dropped off the high at wave ‘B’ today with a nice sharp spike lower .
The decline has not traced out five waves down yet,
I think we need to see another drop into 27.90 again to complete wave ‘i’ down.
If this short term pattern is correct,
then we should see a small impulse pattern lower complete by tomorrow evening in wave ‘i’ and ‘ii’.

Tomorrow;
watch for wave ‘i’ to complete five waves down to begin wave (i) as shown.

Wave (i) should break below 26.60 again over the coming days.