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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The rally in wave (b) is close to the finish line this evening.
Wave ‘c’ is now hovering between the 50% and 62% retracement lines,
and the momentum has stalled.
I think we will see an end to wave (b) tomorrow and the price should begin the turn into wave (c) of [ii].
A break of 1.1130 again will signal wave (c) is underway.

Tomorrow;
Watch for a reversal off the top of wave (b) to begin.
Wave ‘i’ of (c) will break below the 1.1200 level pretty quicky if this count continues to hold.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable did break above the previous wave [i] high today,
but I still believe this rally is in wave (b) of [ii].
the action today suggests wave [ii] is an expanded flat correction where wave (b) will break to a new high in a three wave rally,
and wave (c) will turn lower again from there.
Wave (c) should break the wave (a) low at 1.3138 at a minimum.

Tomorrow;
Watch for wave ‘i’ of (c) to fall back into the 1.3300 level in five waves.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am still hunting for the low of wave ‘i’ today as the price action seems to be tip-toeing lower bit by bit this week.
There is no sign yet of a corrective reversal in wave ‘ii’ either.
I would expect a three wave rise to hit 146.50 in this scenario.
and then wave ‘iii’ down should take us on down to the 140.00 area over the coming week.

Tomorrow;
Watch for wave ‘ii’ to begin a three wave corrective rally to hit 146.50.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Ok,
This action is at least something to write about!

The market has fallen back into the wave wave (iv) lows again today which is the first sign that a reversal can happen here.
It is even more interesting that the market has rejected the previous wave [b] high so far.
I have mentioned over and over again the possibility of this level forming a target and a top for wave ‘B’,
and now we have a taste of that possibility forming in front of our eyes.
It is too early to tell of course,
but A turn down into wave (i) from here will likely fall into the wave [a] top at 40900 again.
and from there a lower high will form.

Lets see how the pattern progresses tomorrow.

Tomorrow;
watch for wave (i) to make progress lower in a five wave pattern to break the 41000 level again.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is getting closer to that wave ‘c’ top now after a small correction and a new high today.
the price is close to completing a five wave rally in wave ‘c’ of (a).
And now a once that is done,
I will then be turning my attention to wave (b) to form a higher low as shown.

Tomorrow;
Watch for wave ‘c’ of (a) to top out very soon.
A drop back below 3300 again will signal wave (b) is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude broke out to a new lower high today in wave [ii],
and immediately the price fell sharply off that high.
I am not entirely sure how to fit that new high in to be honest.
the alternate count may still be an option here after todays hiccup.
But for the moment the price is headed back lower into a possible wave (i) of [iii].

Tomorrow;
Watch for wave (i) to break 60.00 again to confirm this new pattern.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is back off the highs of wave ‘B’ today and the action is beginning to look impulsive to the downside again.
The price has not broken any of the supports below yet,
the first one of interest lies at 5786,
this level marks the previous wave [b].
I want to see a break of that level at least in wave (i) down.
But even more than that will be required in this scenario.
The wave (iv) lies at 5576,
and if we break that level wave (i) will definitely be on.

tomorrow;
Watch for wave (i) to continue lower in a five wave pattern as shown.
A break of 5786 is the first hurdle for wave (i).
So lets see if we can achieve that much.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is back at the highs again tonight and with that I am starting to say goodbye to this pattern.
I will wait for a break of the (ii) high before rethinking the whole outlook here.
So I am going to let the market do its thing here,
and tomorrow will be the time to rethink the overall pattern.

Tomorrow;
A break of the wave (ii) high will invalidate the current pattern and if that happens I may be looking at a whole new idea from the larger degree down.