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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We are seeing a complete rejection of the recent decline today and that has opened up another possibility for wave (b) now.
the price has not broken to a new high yet,
but we are very close now as the close comes into view.
And the action today looks pretty impulsive rather than corrective to the upside.

So,
I am looking at a larger three wave pattern for wave (b).
where wave ‘a’ traced out three waves up,
wave ‘b’ traced out an expanded flat,
and now wave ‘c’ will hit a new high near 1.1450 to complete.

Tomorrow;
WAtch for this new wave (b) to close out with a break of 1.1420.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave ‘i’ did not reach as far as I wanted at the lows,
but now we have a five wave decline in place off the top,
and at the moment the price is holding at a lower high in wave ‘ii’.
So the bones of a reversal are there,
and now we need a sharper drop to begin in wave ‘iii’ to confirm wave (c).

Tomorrow;
Watch for wave ‘ii’ to complete below 1.3590 at the wave (b) top.
And wave ‘iii’ of (c) must turn lower beginning next week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY turned lower into wave ‘b’ today which puts this new pattern on track again.
Wave ‘b’ of (V) needs to turn higher again tomorrow,
and that rally should top out near 147.00 to complete wave ‘b’.
That leaves wave ‘c’ until next week in this scenario.

Tomorrow;
Watch for wave ‘b’ to hold above 142.13 at the wave ‘a’ low.
A break of that level will signal wave ‘c’ is already underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

What can you say about that eh?

The market is all over the place, everywhere and nowhere at the same time.

A rally in the after market last night almost broke to a new high above wave ‘B’ again.
That thought was crushed today with a fall back to near earth orbit!

I am labelling the decline today as wave ‘i’ of (iii).
but even now the market has not given a follow through to the downside to confirm the count.
It would be great to close out the week with a solid drop into wave ‘iii’ of (iii).
But I will have to wait and see.

The pattern remains valid after a stupid day on the tape.

Tomorrow;
Watch for wave (ii) to hold and wave ‘iii’ of (iii) to begin with a drop below 41166 at the wave (i) low.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The wild action spilt over into the gold trade today.

Gold broke below the wave ‘iv’ lows at 3279 again today which signals that wave ‘i’ is complete.
Wave ‘ii’ has rebounded powerfully also,
so that call into question the short term count again!
So we had a move that supports the main pattern,
and now a move against that very same pattern.
I am finding it hard to keep my hat on in this weather!

Tomorrow;
I will stick with this pattern until proven wrong.
Watch for wave ‘ii’ to hold below the wave [b] highs and then wave ‘iii’ of (i) should fall again as shown.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has fallen back off that wave (ii) lower high today with quite a sharp move.
Wave ‘i’ of (iii) is now underway here.
And we should see a follow through to the downside into wave (iii) as this pattern continues next week.
Wave ‘i’ of (iii) may be done now,
and wave ‘ii’ will correct to a lower high tomorrow.
Then wave ‘iii’ of (iii) can take over again next week.

tomorrow;
Watch for wave ‘ii’ to create a lower high to complete the week as shown.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P came very close to breaking out above the wave ‘B’ high again today.
That has not happened yet,
but I can’t guarantee that it wont happen.
And that is keeping me at the edge of my seat today to be honest.
The more I want to see a sharp drop into wave ‘iii’ down,
the further away it seems.

I am going to hold out to see if tomorrows trade brings that long awaited move lower.
This ‘i’ ‘ii’ pattern is alive until it gets invalidated.

Tomorrow;
Watch for wave ‘ii’ to hold below that wave ‘B’ high and wave ‘iii’ down to take over to confirm wave (i) down.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The triangle pattern for wave ‘iv’ is still possible,
but I will admit that the relative size of wave ‘ii’ is quite small in comparison.
This pattern has not completed wave ‘e’ of ‘iv’ yet,
and a small step lower into 33.00 again will do the trick here.
And from there I can look for a completion in wave (c) of [ii] at a new high above 33.70.

tomorrow;
Watch for wave ‘iv’ to complete early in the session and then turn higher into wave ‘v’ again.