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

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EURUSD

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EURUSD 1hr.

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Another step lower today which moved down to the lower trend line of the channel today
this move is still within the parameters of a correction lower within wave '5' of 'c'.
So I suspect we will have to wait until next week before any serious turn lower happens

I will say that if we see a break below 11630 again at the wave '3' high,
that will signal a turn into wave 'i' has begun

Tomorrow;
The market is closed in the U.S so there will not be much action to speak of.

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GBPUSD

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GBPUSD 1hr.

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I was hoping for a more substantial turn lower to complete wave 'i' pink,
so that idea is still in doubt at the moment.
The wave 'iv' low lies at 1.3370,
so I want to see wave 'i' fall into that area in five waves to be sure of the turn into wave [ii].
The decline off wave [i] is still a good start,
but a confirmation move is required in wave [ii].

Tomorrow;
As above,
there won't be much action tomorrow on account of the holiday,
but I am continuing to watch for a sharp fall below the trend channel to complete wave 'i' pink.

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USDJPY. 

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USDJPY 1hr.

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USDJPY is now moving in line with a possible triangle wave (iv) after another step higher today.
I am showing a three wave pattern higher into wave 'e' of (iv) as the expected pattern.
And wave 'a' of 'e' should be done now at todays highs.

Tomorrow;
a correction lower off this high will signal that wave 'b' is underway.
Wave 'e' must complete below the wave 'c' high at 148.01.

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DOW JONES.

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DOW 1hr.

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I am going to lose this battle again I think.
the DOW has moved up into the highs again today as the market is all too tempted to close out the holiday weekend with a new high.
There are no dark clouds gathering over wall st at all it seems.
As the real world slides into a prolonged depression scenario,
the fiction of stock prices makes new all time highs.

A break to a new high will open the door to another wave count again,
but wave 'B' will also fit as an expanded flat.

Tomorrow;
The market will be closed so no action will occur here unlike the FX which may move a little.
So the wave count will have to wait until next week on this one.

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GOLD

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GOLD 1hr.

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Gold did move lower off that wave (ii) high today so that keeps the main count in play.
Wave (ii) is complete at this weeks high,
and wave 'i' of (iii) is now in play after todays small step lower.
A follow through back to the recent lows at 3250 again will confirm this pattern.

The alternate count for wave (ii) is shown also.
And if the price only manages a higher low over the coming days that will favor the alternate count.

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CRUDE OIL.

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CRUDE OIL 1hr.

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I can see a possible five wave pattern developing higher in wave 'c' this week.
the price moved lower in a corrective manner today,
and that suggests wave '4' of 'c' is complete.
Wave '5' of 'c' should pop back towards 68.00 again to complete this pattern.
And from there wave (b) will take over next week.

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S&P 500.

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S&P 500 1hr

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Of course the summer break must end on an all time high again.
And today the market pushed away from that upper trend channel line again.
The expanding wedge can still fit here even with that extension in wave 'v'.
especially because the preceding action in wave 'i' and 'iii' were far from a classic five wave impulsive form.
The market has made a final push today,
but nothing is guaranteed in this world.

Tomorrow;
This market will have to wait until next week before closing out wave 'v'.

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SILVER.

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SILVER 1hr

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Silver has pushed out of the triangle wave (iv) low again today.
the action suggests that wave 'i' and 'ii' of (v) are done today.
And wave 'iii' of (v) will take the price higher again next week.
This pattern will remain valid as long as the price holds above 35.86 at the wave (iv) low.

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