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

It’s that time of year again.
The kids are off school for the summer,
and we are going to head off on a holiday adventure next week.
And I will be traveling around and camping in different places over the next two weeks.
the internet access will not be fantastic, I know that for sure.

But,
I will be updating as often as I can.
but just not every night!
And,
If there is a serious move in the markets I will for sure get on and put my thoughts on paper as they say.

I just wanted you to know the situation.
Thank you for your patience.

EURUSD

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I keep cycling through the possible patterns for wave ‘c’ of (b) this week.
and that EURUSD has pipped to a very slight new high today,
It is possible to look again at this wave ‘c’ pattern.
I am suggesting a three wave pattern for wave ‘c’ now.
this involves a triangle wave ‘b’ which explains the long pause this week.
and now a pop higher in wave ‘c’ of (b).

Tomorrow;
Watch for wave ‘c’ of ‘c’ to finally call a halt to this three wave pattern higher in wave (b).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am changing to a different wave count in cable tonight also.
This is a variation on the previous wave [ii] correction.
I am now looking at a three wave pattern lower into wave (a) of [ii].

Wave ‘a’ pink is tracing out a three wave decline overall.
with wave’s ‘a’ and ‘b’ now done,
and wave ‘c’ left to turn lower again.
Wave ‘a’ should complete back below 1.3400 at a minimum.

Tomorrow;
Watch for this three wave pattern higher in wave ‘b’ to top out,
and wave ‘c’ down should turn lower again as shown.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is really struggling to pick a lane and stay in it these days!
The rally in wave ‘c’ of ‘b’ has stalled out today.
And it seems the price is correcting within wave ‘c’ at the moment.

I am still looking for a move higher into wave ‘c’ of ‘b’ to complete the larger correction.

Tomorrow;
Watch for wave ‘c’ to push up to 146.27 once more to complete the pattern,
and from there I will look for a reversal again.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has turned off the highs of the session as I write
and now we are back in the corrective range where most of the action has been this week.
I am not going to jump the gun and claim that a top is in for wave ‘B’ again.
But I won’t hide the fact that I want a top to happen in wave ‘B’ asap.

tomorrow;
The market simply must fall impulsively to break 40000 again to give this wave ‘B’ idea a lifeline again.
So that is what I am calling for here.
It would be good to start breaking below the short term support levels within the pattern.
The first one lies at wave ‘b’ at 41800.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has spent the week stuck in a sideways corrective move which is too large to continue with the previous count.
I am now moving the count up by one degree,
with wave (i) and (ii) now complete.
Wave (iii) down must extend lower over the coming days to prove this count correct.
And the high at wave [b] must hold at 3403.

Tomorrow;
Watch for wave ‘i’ of (iii) to fall back below 3246 to confirm this new idea.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Well,
That rally has completely broken the main wave count from last night.
And now I am forced to rethink the larger pattern from the daily chart down.

Starting on the daily chart.
I am switching to an ending diagonal for wave [5] in red.
The rally in wave (4) has broken above the previous wave (1) low,
and that fits an ending diagonal scenario.

4hr chart.
We are still dealing with three waves up overall,
and we are still dealing with a fourth wave correction overall.
the next major move should be to the downside into wave (5) of [5].

The hourly chart shows the rally within wave ‘C’ of (4).
The price is pushing towards the upper channel line again to complete this correction.
And I am making the argument that this rally is happening in wave [v] of ‘C’ of (4).
So even now we should be closer to the end of a move than anything else.

Tomorrow;
Watch for wave (v) of [v] to possibly hit the upper trend channel line and then I will look for a reversal next week I think.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is back off the highs of the session also tonight.
And that turn can’t come too soon.
The market has now hit the 6000 level again in wave ‘B’.
That level seems to be the draw over the past few weeks.
And the pattern has gravitated to it with painful march in wave (v) of [c].
If we are now done in wave ‘B’,
then it is high time to begin wave ‘C’.

Tomorrow;
The market must now turn lower in a very large way to breath life back into the main pattern.
The initial support lies at the wave (iii) high at 5970,
and below that wave (iv) lies at 5740.
And that is the target to break in order to open the door to wave [i] of ‘C’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is off the highs again today but this action continues to look pretty corrective at the moment.
The pattern can still allow for a pop in wave ‘5’ of ‘v’ here in order to complete wave (iii).
And then wave (iv) will be ready to start possibly next week.

If we see a break of 34.75 again that will signal wave (iv) is underway.

Tomorrow;
Watch for wave ‘v’ to complete with a pop into the 37.00 handle again.
Wave ‘a’ of (iv) will be confirmed with a break of 34.75.