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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave ‘c’ of (b) turned higher today,
and the price hit the minimum target for the pattern by breaking the wave ‘a’ high again.
we have a three wave pattern in place for wave (b) now,
but I am looking for wave ‘c’ to hit the 50% retracement level at 1.1318 again before turning my attention lower again into wave (c) of [ii].

Tomorrow;
WAtch for wave ‘c’ of (b) to complete three waves up at the 50% retracement level at 1.1318.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave (b) has traced out three waves up in cable also at the session high today.
Wave (b) has almost retraced the whole of wave (a) now,
so I would like to see a top form for wave (b) at todays high of 1.3404,
and then wave (c) should begin with a drop back below 1.3249 at the wave ‘b’ low.

Tomorrow;
Watch for wave (b) to hold below the previous high.
And wave ‘i’ of (c) must continue lower to break 1.3249.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The action in USDJPY is less than inspiring today without much movement in any direction yet.
The action has not completed a proper corrective lower high in wave ‘ii’ yet.
So I am going to give wave ‘ii’ another day to see if that happen.
And then I will look lower again into wave ‘iii’ of (v) later in the week.

Tomorrow;
Watch for a small lower high to complete near 147.00 in wave ‘ii’ of (v) of [c].

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Now I am starting to get worried!

The market bounced today to regain Fridays declines.
Now we are starting to get too close for comfort to the all time highs again.

I will not that the market topped this evening at the previous wave [B] high at 42826.
So now we have met all previous suggested target levels for this wave ‘B’ rally.
The rally has gone on long enough.
And if this is in fact a corrective retracement in wave ‘B’,
then I want to see a top form this week.

Tomorrow;
Lets see if this previous wave [b] high can finally top out this rally in wave [c] of ‘B’.
Wave (i) down should drop back below 41000 again at the previous wave [a] highs.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The rally in Gold has stalled after a mostly sideways trade today.
I am still looking for a three wave rise in wave (a) of [b].
And wave ‘c’ of (a) is ongoing today.
the price may be correcting within wave ‘c’ of (a) today.
And that will result in another pop tomorrow towards 3276 to complete three waves up as shown.

Tomorrow;
Watch for wave (a) of [b] to complete three waves up with a break of 3270.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is still working on a corrective wave (ii) pattern with another attempt at a lower high today.
Wave (ii) must now complete in this scenario,
and wave (iii) down must take over for the rest of the week.
Wave ‘i’ of (iii) will fall back below 60.00 over the next few sessions if this pattern is correct.

Tomorrow;
Watch for wave (ii) to hold below 63.50.
WAve ‘i’ must now turn lower in five waves to break 60.00 again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P bounced today also to retraces all that was lost on Friday.
The market has not gained much above that Friday high though.
So there is still hope that a top is still on the cards here.

The same general comment counts for the S&P as with the DOW.
Wave [c] has overachieved at this point.
The rally in wave ‘B’ has retraced above the 78.6% Fib again today.
And that is farther than I wanted it to go to be honest.

If this is in fact a top in wave ‘B’,
then we are at the perfect spot to begin a reversal into wave ‘C’.
If I am wrong about this lower high,
then I think we will know by the end of this week.

Tomorrow;
Watch for wave (i) of [i] to take over with a drop back below 5786.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has again bounced to a lower high today,
I think that is the fourth lower high in a row after that wave (ii) top at the end of April.
We are getting close to a month of sideways action off that wave (ii) top without mush to show for it to be honest.
And I am getting impatient for the next leg to get going.
Wave (iii) down can still happen for sure,
but that wave needs to make a concerted effort to push lower this week to keep this pattern alive.

Tomorrow;
Wave ‘3’ of ‘iii’ needs to drop sharply to kick this pattern into gear with a break of 31.60.