God Bless to you all tonight.

is it any wonder we get a rip roaring market when a government does this to the money supply!

And still gdp is lower on a rolling basis.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is flat todays off the top of a possible wave (c) rally.
This rally really needs to turn this week in order to stick with the triangle wave count that I have been working on for a long time.
There is no sign yet that wave (i) down has begun,
but I want to see a break of 1.2048 again in order to confirm that top.

Tomorrow;
Watch for wave (i) to begin a five wave decline below the wave (b) low at 1.2048.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

So far cable has rejected the high at 1.4239.
I am not overjoyed by todays declines as the pattern is not impulsive yet,
but a rejection is a rejection!
So we will see if we can follow through tomorrow.
Wave (i) should fall below 1.4005 at a minimum.
A break of that wave ‘iv’ low should break the momentum and point lower at least in the short term.

Tomorrow;
Watch for wave (i) to continue lower into 1.4005.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY actually rallied off the Tuesdays lows overnight,
then spiked lower at the US open to form another higher low.
and now we see the price rise again off the session low.
Overall the wave count still holds as long as the wave ‘4’ low at 107.47 holds.
But I am looking at another interpretation of wave [ii] this evening.

This involves a running flat wave [ii] with a failed wave (c) at todays low.
If this is correct,
then wave [iii] should now continue higher for the next few days.

The previous count now becomes the alternate,
but this interpretation is equally as valid at this point.

Tomorrow;
Watch for wave (i) of [iii] to begin and head higher to break 109.79 again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has moved one step closer to confirming the top for wave ‘5’ blue is in at the recent all time high.
The market spilled lower in a nice impulsive fashion today and broke the wave ‘b’ low at 33841.
This action indicates that wave ‘i’ of (iii) completed at todays low.
And wave ‘ii’ of (iii) is now underway as the rebound off todays lows.

The larger pattern is now at a critical point,
if wave (iii) is now underway,
then we should see a small lower high in wave ‘ii’ form tomorrow.
At that point the market will be set for a cascading decline into wave ‘iii’ of (iii) over the following few sessions.
In this case,
next week looks very interesting indeed.

Tomorrow;
watch for wave ‘ii’ to complete and then turn lower into wave ‘iii’ possibly by the end of the session.
A break of 33280 again will confirm wave ‘iii’ of (iii) is underway.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave ‘v’ of (c) continues to hold tight onto the reigns today.
The price spiked higher at the open and hit the upper trend channel line of the wave ‘v’ channel.
And now we have another rejection off a trend line in play.

The price is falling this evening and this should be the beginning of wave ‘i’ of (i) as shown.
1808 is the initial target level for wave (i) to complete.
If we see a decline below that level I will be reasonably confident that the turn is in.
A break of 1755 again will pretty much confirm the turn into wave [c].

Tomorrow;
Watch for wave (i) of [c] to continue lower into that initial support.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude fell into the 62 handle today before rebounding slightly off that level.
Todays decline fits the character of a third wave with a sharp acceleration.
And the action this evening is labelled as wave ‘iv’.
This rebound should be temporary and corrective in nature and then lead to a decline into wave ‘v’ of (i) by Friday.
This will complete five waves down and set up for a corrective rebound next week in wave (ii).

Tomorrow;
watch for wave (i) to complete with a correction sideways in wave ‘iv’ and a final spike lower into wave ‘v’.
Wave (i) should break into the 61.50 area to complete.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays decline completes wave ‘i’ of (iii).
the decline did not break to a new low below wave (i),
but the pattern within wave ‘i’ looks like a nice five wave form.
So this evenings rally is viewed as wave ‘ii’ of (iii) underway.
This should form a corrective lower high below 4183,
and then the scene will be set for wave ‘iii’ of (iii) down.

Tomorrow;
Watch for wave ‘ii’ to complete three waves up to a lower high.
A decline back below 4060 again will signal wave ‘iii’ down has begun.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

We have a possible ‘i’ ‘ii’ pattern in place off the high at wave ‘B’ now after todays action.
The price has posted a lower high,
and now wee see another selling spike as we head into the close.
If wave ‘iii’ is now underway,
then this selling should continue tomorrow and wave ‘iii’ of (i) should break back below 27.00 at least.
Wave (i) itself should continue down into 26.60 again.

Tomorrow;
Watch for wave ‘iii’ down to continue and push into support.