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

EURUSD

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EURUSD daily.

The price has dropped off this weeks high today and that brings the possibility that wave (b) is complete at 1.1362.
The decline is not deep enough to confirm wave (c) yet,
but If we see a drop into below 1.1200 again that will be a good signal that wave ‘i’ of (c) is underway.

Tomorrow;
watch for wave ‘i’ to complete five waves down with a break below 1.1200.

GBPUSD

GBPUSD 1hr.

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GBPUSD daily.

the high in cable is holding at wave (b) today but there is nothing to confirm wave ‘i’ of (c) yet.
I want to see wave ‘i’ fall back into support at 1.3250,
and if that happens I can confirm wave (c) is underway.

Tomorrow;
Lets see if the price does fall in five waves to break 1.3300 again and conform wave ‘i’ of (c).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘i’ of (c) has reached a low just above the support at wave ‘b’ today.
The rally is enough to consider wave ‘ii’ in play here,
but not enough to confirm it,
that is a familiar refrain tonight!
Wave ‘ii’ should rally in three waves towards the 145.50 area.
And from there I will look for a decline into wave ‘iii’ as shown.

Tomorrow;
watch for wave ‘ii’ of (v) to complete a lower high as shown near 145.50.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The drop off wave ‘B’ has broken the previous wave (iv) lows today.
and that is enough to consider wave (i) blue complete.
I am suggesting now that wave (ii) will create a corrective lower high as shown.
And that will take up tomorrows trade if this scenario is correct.
Wave (iii) down will wait for next week.
And that will be a real test to see if this whole pattern is actually correct for wave ‘B’ and wave ‘C’.
This count requires a large decline next week to kick off wave [i] of ‘C’.
and we should easily break below 39000 again in wave [i] green.

Tomorrow;
Watch for wave (ii) to create a lower high to setup for a larger decline next week in wave (iii) of [i].

GOLD

GOLD 1hr.

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GOLD daily.

Gold finally turned lower off the wave (a) high today and now I can turn my attention to wave (b).
Wave (b) should fall back towards 3200 again in a three wave pattern.
And that wave will take up mush of next weeks trade.
Wave (b) will form a higher low later next week and form there wave (c) should begin.

Tomorrow;
watch for wave (b) to continue lower in three waves over the coming days.
Wave ‘a’ and ‘b’ will form a lower high as shown early next week as shown.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I am showing a small five wave pattern down off this weeks high at wave [ii] now.
the price has fallen into the previous lows at 60.13 again.
This action is a relief to be honest,
and I can stick with the larger wave count now with the idea that wave [iii] down is now beginning.

Tomorrow;
Watch for wave (i) to complete soon, possibly with a break of 60.00 again.
We may even see a turn up into wave (ii) begin tomorrow in this scenario.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am risking it by calling this decline wave ‘i’ down.
But I feel like it is now or never for this pattern.
Wave ‘B’ has gone far enough and should be complete in this area.
The rally is in three waves overall,
but the pattern exceeded all standard targets for a normal ‘B’ wave correction.
Hence my worried reaction this week.

At this point the market has retraced any gains made this week.
And I can stretch to suggesting a five wave decline into wave ‘i’ is complete.

I want to see a very short lived correction into wave ‘ii’ to be honest.
The sooner we see a sharp decline to break support at wave (iv) the better for the larger pattern.
Hopefully that can happen quick next week.

Tomorrow;
Watch for wave ‘ii’ to complete a small lower high and maybe even wave ‘iii’ of (i) can begin before the close of the session.
A break below 5700 is the initial target for wave (i) blue.

SILVER.

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SILVER daily.

The price action has just about kept this pattern in play today.
A double top can still be labelled wave ‘ii’.
And then fact that we saw a nice sharp reaction to the session high means I can stick with this pattern.

Wave ‘1’ of ‘iii’ should fall back into the wave ‘b’ low at 31.63 over the next few sessions.
And the quicker we get there the better.

Tomorrow;
watch for a five wave pattern to form in wave ‘1’ of ‘iii’ to retrace all of that rally in wave ‘c’.