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

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave ‘1’ and ‘2’ is still in place after another sideways trade today.
Wave ‘2’ is holding a lower high below wave (b).
and I am looking for a follow through to the downside into wave ‘3’ of ‘i’ over the rest of this week.
A break below that wave ‘1’ low again at 1.1370 will signal wave ‘3’ of ‘i’ is underway.

Tomorrow;
Watch for wave ‘i’ down to be confirmed with a break below 1.1370 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

It is difficult to label this weeks action as a five wave pattern yet,
but that can change.
the main thrust of the action this week is to the downside so far,
so I am looking for this to continue into wave ‘i’ pink for the rest of the week.
If we see a break of that wave ‘4’ low at 1.3115 again that will signal wave ‘i’ is underway.

Tomorrow;
A sharp move lower into wave ‘3’ of ‘i’ is required to break 1.3415.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I am switching to that alternate count for wave ‘b’ tonight after another day of hanging on at the highs of this week.
the longer the price refuses to turn into a third wave down,
the less likely that count is.

Wave ‘b’ is expected to push into the upper trend line near 147.00 to complete three waves up.
and from there I will look lower into wave ‘c’ again.

Tomorrow;
Watch for wave ‘b’ to complete three waves up as shown with a break of 146.27.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is holding sideways again this evening with very little to add to the larger pattern.
people seem to be expecting some big trade announcement with China,
maybe that happens,
and maybe that finishes wave ‘B’.
At the moment,
the pattern in wave ‘B’ has about run its course.
I know I have been saying that for weeks,
but here we are in a dead sideways market for almost three weeks.
there seems to be as much ‘geed news’ baked in to this price as humanly possible.

and so I remain steadfastly anticipating the turn into wave ‘C’.

Tomorrow;
The turn down off wave ‘c’ of (v) is yet to happen,
but typically the ending diagonal pattern in wave [c] green has run out of steam.
And the next step will come in due course.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

A larger three wave pattern in wave ‘iv’ does bring into question the wave (i) pattern.
I am not discarding this idea,
but there may be a different scenario building here.

the price has turned down this evening off that wave ‘iv’ top,
and that suggests wave ‘v’ is beginning.
I want to see a drop into the wave (b) low at 3246 again to complete wave (i).
If that happens,
this pattern will be looking stronger.

Tomorrow;
Watch for wave ‘v’ of (i) to continue lower and drop into the wave (b) lows at 3246.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil has turned sharply off the session high this evening as the pattern is calling for a top in wave ‘4’.
Wave ‘4’ cannot be confirmed at all yet.
The price should fall back into the 60.00 level again in five waves to signal wave [i] of ‘5’ is underway.
And if that happens,
then the wave ‘4’ top will get a massive probability boost.
And we can expect a long road down into wave ‘5’ blue.

Tomorrow;
It is a wit and see moment now in this market.
Wave [i] of ‘5’ requires a solid five wave pattern lower to break the 60.00 level again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The price action over the last month is very reminiscent of the final push into the previous high in February.
The market is so close to that previous high that I am worried about this pattern for sure.
If it makes a double top of some sort,
then the wave count will be broken and I will be found crying on the floor of my office!
I will deal with that day if and when it comes!

Tomorrow;
I am still tracking this move as wave ‘c’ of (v).
It is way too late in the pattern to be jumping on the bull train!
So I am going to hold on with wave ‘c’ of (v) to see it to the end.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The price is now closing out a rally in wave ‘v’ of (iii).
And it looks like wave ‘v’ is creating another extension in wave ‘5’ of ‘v’ tonight.
one more pop into the top of wave ‘5’ black will finish off this larger wave.
That will bring the price close to that upper trend channel line,
and from there wave (iv) will begin.

tomorrow;
Watch for wave ‘5’ of ‘v’ of (iii) to find a top near 36.15.