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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

After breaking sub par earlier on this morning reaching a low of 0.9999,
we now have a slight rise off that new low this evening.
The decline into wave ‘v’ was fairly choppy indicating a loss in downside momentum.
If wave (iv) is now underway off the lows,
the we should look for a three wave rise into the 1.0200 area to complete.

Tomorrow;
Watch for wave ‘a’ and ‘b’ to to hold above 1.0000.
Wave ‘c’ will make the progress higher later in the week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking at a possible running flat in wave (iv) for cable now.
The price fell to a new low today but I am not satisfied that this new low completes wave (v) as wave (iv) is not large enough yet.

Tomorrow;
Watch for wave ‘c’ of (iv) to rise and complete below 1.20.
Then turn lower again into wave (v) again.

A break above 1.2172 will signal that the low for wave [v] is possibly complete.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘iv’ fell back into the range today and now we have three waves down in place this evening.
Wave ‘iv’ must complete above 136.22.
And wave ‘v’ should make a new high in this scenario.

Tomorrow;
Watch for wave ‘v’ to complete the larger pattern in wave (v) of [v].
A break of 134.95 again will signal wave (v) is complete.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

We seem to be at one of those inflection points in the pattern again.

The rally this afternoon is favoring the alternate wave (ii) count now.
The market fell in three waves off Mondays highs.
and now a sharp reversal is hinting at more to come.
I have not switched to that alternate count yet for wave (ii).
But if we break 31500 tomorrow that will trigger a larger wave (ii) scenario as shown.

Tomorrow;
Only a sharp decline to break the wave ‘b’ low at 30350 will be enough to signal wave ‘iii’ is underway here.
It is a possibility still so I will not rule it out yet.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is holding pretty solid in that 1730 area this week,
but I do think the action overall suits a triangle correction in wave ‘iii’ down.
The price is moving lower this evening out of that triangle pattern,
and this should lead to a final low in wave ‘iii’ close to 1700 again.

Tomorrow;
WAtch for wave ‘iii’ to break out of that triangle pattern to a new low near 1700.
Wave ‘iv’ should turn higher again in three waves towards 1750 later in the week.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Todays downturn can still be viewed in terms of a developing wave ‘2’ blue.
As long as the price does not continue its acceleration lower as it did today.
It seems now that wave ‘2’ will trace out a zigzag correction and complete back above 103.00 again.
The zigzag pattern will fit as long as wave [b] holds above the low of wave ‘1’.
A break of that low again will complicate matters a little.

Tomorrow;
Watch for wave [c] to turn higher and trace out five waves up again to complete above 103.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am in limbo tonight with the stock market!
There seems to be a certain calm right now and the action is pretty directionless today.
but I suspect this is just a consolidation before we do accelerate lower again into wave ‘iii’.
I want to see a break of the 3737 low again for this idea to remain valid.

Tomorrow;
The high at wave ‘ii’ must hold at 3946.
Wave ‘3’ of ‘iii’ should get underway with a sharp move lower to break 3737.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver hit a new low again below the wave [iii] low at 18.90.
This action is still best viewed as a three wave decline in wave (b) of [iv].
and I suspect wave (c) is now underway off todays low.

tomorrow;
Wave (c) should push higher to break 19.50 and complete an expanded flat correction in wave [iv].