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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has fallen back into the wave ‘b’ low today at 1.0444.
The wave (iv) correction is now complete at 1.0614.
So I can concentrate on the decline into wave (v) of [v] now.

There is a possible wave ‘i’ and ‘ii’ lower high already in place today.
And we do have a sharp move lower this evening to suggest wave ‘iii’ of (v) is underway.

Tomorrow;
Watch for wave ‘ii’ to hold at 1.0535.
Wave ‘iii’ of (v) should fall into support at 1.0340 when complete.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has now broken below the recent shoulder of support at 1.2161.
This action should be enough to signal wave (iii) is underway off the recent high at 1.2333.

The lows of wave ‘i’ look a little choppy,
So I am expecting the initial decline to stop now,
and I am allowing for another correction higher tomorrow in wave ‘ii’ tomorrow.
wave ‘iii’ should accelerate lower to break below 1.2000 again later this week.

Tomorrow;
Watch for wave ‘ii’ to form a lower high near 1.2200 again.
This correction should be complete by tomorrow evening at the latest.
And then Friday should bring renewed selling into wave ‘iii’ of (iii).

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Another day another new high in USDJPY.
I am disappointed that we have not turned lower into wave [i] of ‘A’ yet.
I know it is coming soon,
but I have been fooled by a number of false starts to the downside.

The price has made a slight new high today,
but now we we are closing back below the wave (iii) top again at 136.72.
The upside momentum overall has all but died now,
yet I still have to wait for a confirmed impulse wave lower to call that top again.

I may have to wait until next week now.
But so be it.

Tomorrow;
I must now wait to see another topping signal in wave (v) of [v] over the coming days.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

A small consolidation in the market today without much of a retracement to speak of.
This action is pretty weak,
and I would not be very inspired that there is no reaction to last nights selloff at all.
I have labelled this decline as wave ‘1’ and ‘2’ of ‘i’ of (iii).

This next impulsive decline in wave ‘i’ of (iii) will take the rest of the week to complete at least.
And I am looking for a drop below 30000 to complete this wave.
If this count is correct,
then we will not see mush upside to complete wave ‘2’,
and then we will see a rapid decline again tomorrow in wave ‘3’ of ‘i’ as shown.
A break below the previous wave ‘b’ at 30020 again will be enough to signal wave ‘i’ is in play.

Tomorrow;
The high at wave (ii) must hold.
Watch for wave ‘i’ down to continue lower for the rest of this week.
WAve ‘3’ of ‘i’ should hit 30250 at a minimum.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

We are getting so close to that invalidation now for this bullish count that I am just now waiting for it to happen!
The price made another higher low today complete with a spike rally for good measure.
Because the price has not broken 1804 yet,
I can still count this decline as wave ‘ii’ of (i).
I know this is frustrating,
but the decline is still corrective in wave ‘ii’,
and until this count is invalidated I must stick with it.

Tomorrow;
1804 must hold.
A break of that level will trigger the alternate count.

Even the alternate cou t calls for a rally into the 1860 area over the coming days,
so I am confident that a rally is coming either way.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude made a new high near 113.00 today but immediately the price collapsed back below 110.00 again.
We are closing the session this evening at 108.35.
This decline is enough to consider wave ‘2’ now complete.
I have labelled the sharp drop today as wave (i) of [i] of ‘3’.
And if this count is correct,
then we are likely to see continued downside over the coming days to challenge the recent lows at wave ‘1’ again.

Tomorrow;
Watch for wave (i) and (ii) to form a lower high possibly near 110.00 again.
Wave (iii) of [i] will have to wait until Friday I guess.
And that is where the bulk of the progress lower will be made.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

A similar count in the S&P today with a small consolidation at the lows being the story of the session.
The price has not done enough yet to confirm wave ‘iii’ is underway.
That will come with a break of the wave ‘i’ low at 3636 again.
I will be happy with this weeks action if we see another corrective lower high build in wave ‘1’ and ‘2’ as shown.
But right now I don’t think wave ‘1’ of ‘iii’ is even complete yet.
So this pattern must continue lower again tomorrow.

Tomorrow;
Watch for wave ‘1’ to fall into the recent interim low at wave ‘b’ of 3690.
The high at wave ‘ii’ must hold now.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has done enough work to the downside to consider the alternate count more closely tonight.
So I have now labelled this weeks action as a possible correction in wave (ii) of [iii] of ‘5’.

The action seems trapped in a flat correction sideways this week.
And another rally back into the 21.60 area will complete this correction.
Then I will look for a decline again into wave (iii) of [iii] to take the price back below 20.00 again early next week.

Tomorrow;
Watch for wave (ii) of [iii] to complete a flat correction with a rally into 21.60 in wave ‘c’.