Hello all,

May the LORD of Hosts Bless you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is tracking sideways to nowhere over the last week.
So much so that it is difficult to pin down the pattern that is in operation in the short term.
It is obviously corrective in nature,
but the exact degree of the correction is up for debate now.

I have switched to the alternate count this evening tracking wave [iv] of ‘C’.
When this completes,
we should see a decline into wave [v] again.

Tomorrow;
Watch for wave (b) to find a low and then wave (c) should head higher in five waves to complete an expanded flat above 1.1880.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable continues to spike lower today and the decline has gone far enough now to consider an alternate count here.
It is possible that this acceleration lower is wave (iii) of [iii] already underway now,
IT really depends on the correction higher that will come our way this week.
If the correction rallies back above 1.3700 again that will favor the main count.
A shallow correction will favor the alternate idea.

Tomorrow;
Watch for wave (ii) to begin a three wave correction higher as shown.
I think wave (ii) will break 1.3700 before completing.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has traced out a three wave correction higher into the high this evening.
The pattern is updated this evening to show a correction in wave ‘ii’ now complete.
And wave ‘iii’ of (iii) down should reverse lower tomorrow.

If this pattern is correct here,
then we should see a fast acceleration lower over the coming days in wave ‘iii’ of (iii) of [iii].
A break above 110.34 again will rule out this count.

Tomorrow;
Watch for wave ‘ii’ to hold below 110.34.
Wave ‘iii’ down should fall below 108.30 at a minimum.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I will admit that I am a little gun shy regarding this bearish count.
and the rally today is not helping!

But,
There is a reasonable five wave pattern in place off the high.
So far we have a three wave rally to a lower high,
and the price has just broken the 62% retracement level this evening.

IF this is a bearish pattern now in place,
then we should see a larger drop begin now in wave (iii).
and wave (iii) down should easily break 33000 again.

We will know soon enough if this pattern is correct or not.

Tomorrow;
Watch for wave ‘i’ of (iii) to fall back into the 34000 area again.
Wave ‘i’ and ‘ii’ of (iii) should create a corrective lower high again this week.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has set a lower high in place today.
We now have a possible wave (i) and (ii) in place at todays highs.
And the spike lower this evening is signalling a possible drop into wave (iii) beginning tomorrow.
This is a crucial time for this count.
WAve (iii) of [v] should push to a new low below 1750 and it should do that easily.
If we do not see another decline this week,
that will favor the alternate count.

Tomorrow;
Watch for wave (iii) of [v] to turn lower again.
the price must hold below 1834 as wave [v] develops.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

WAve ‘3’ down seems to be complete at the early lows today.
The price has spiked off the lows today and this rally suggests that wave ‘4’ is now underway.
I would like to see a strong consolidation pattern like a triangle here,
but at a minimum we must see three waves up in wave ‘4’,
and the correction higher must hold below 70.34 at the wave ‘1’ lows.

Tomorrow;
Watch for wave [a] and [b] to create a higher low above 65.00.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has rebounded nicely also today.
You would have to suspect that the algorithms have automatic buy programs for anything over a 3% sell down with that sort of momentum in it.
It worked today,
but will the rally fail as a correction and return lower again.
That could easily switch the buying frenzy to a selling frenzy.
And we would have a repeat of last march again!

Tomorrow;
If this lower high is wave (ii) as suggested,
then wave (iii) must begin in the next few sessions.
Watch for wave ‘i’ of (iii) to fall in an impulsive manner to begin another selloff.
Wave (iii) should break 4130 again with ease.

The all time high must hold now.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The price has fallen quite impulsively this week and I am watching wave (i) of [iii] completing this evening.
I was expecting a larger correction high to begin in wave (ii) today,
but there is no signs yet of that wave (ii) beginning.
Wave (ii) should rally back towards 25.50 again before turning lower into wave (iii).

Tomorrow;
Watch for wave (ii) to begin and correct higher in three waves into 25.50 again.