Hello all,

May the LORD of all creation Bless you all tonight,

I’m back from a few days off, so here we go!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A few more days have gone by and nothing has happened regarding the beginning of wave [v] down.
Wave [v] is important as it will complete a three wave decline within wave (d) of a larger triangle.
And that will lead to a possible three wave rally in wave (E) over the coming months.

As for wave [iv] of ‘C’.
It looks like we have a triangle in operation here.
IF the price remains below 1.1840 in wave (e) of [iv],
that should lead to a decline into wave [v] beginning tomorrow.

Tomorrow;
Watch for wave (e) of [iv] to complete below 1.1840.
Wave [v] will be confirmed with a break of 1.1750 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The action over the last few sessions has really favored the alternate count so I have switched to that idea this evening.
The recent low is viewed as wave ‘1’ now complete.
And a three wave recovery is now underway in wave ‘2’ as shown.
The rally over last weeks lows is viewed as wave [a] of ‘”‘.
And we should expect a corrective decline into wave [b] of ‘2’ over the coming days.
I am looking for wave [b] to fall into 1.3720 again at the small wave (iv) of [a].

Tomorrow;
Watch for wave [a] to top out and wave [b] to begin with a spike lower off the high.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The short term count in USDJPY is hanging in the balance here also.
The decline off last weeks high can be viewed as wave (i) of [iii] down.
and that is the main count.
If this is correct,
then the price will continue lower over the coming week and we should complete wave ‘C’ of (2) somewhere in the area of 107.40 in a week or so.

However,
in terms of the alternate count.
The decline off last weeks high can also be viewed as a three wave correction in wave [ii].
The bounce off the lows today is reasonably impulsive looking also.
So,
are we looking at a reversal pattern high now building??

If so we have a series of 1,2 impulse waves now in place.
And wave [iii] of ‘3’ to the upside is on the verge of beginning.
If the price continues higher tomorrow and breaks above 110.60 again.
That will favor the bullish alternate count and wave [iii] up will be in play.

Tomorrow;
Back to the main count.
Watch for wave (iii) blue to fall back below 109.58 to signal the larger decline is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has been asleep this week so far.
And the action is taking the shape of a corrective triangle at the moment.
I have labelled this wave ‘iv’ of (c).
With the expectation that wave ‘v’ of (c) will push to a new high later in the week.

If we see a rally into the upper trend line again in wave (c) into the area of 35550 again.
That will complete Wave (c) up and I will then begin the hunt for a reversal pattern to begin off that top.

Tomorrow;
watch for wave ‘iv’ to complete a triangle now and then rally again into wave ‘v’ beginning tomorrow.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The pattern in gold continues to tighten around that even 1800 number today.
And after a few weeks of oscillation around 1800,
it now seems possible that we have a triangle pattern in play for that wave [iv] green after all.
If that is the case,
then wave [iv] is all but done now at todays high of 1807.
And we should see a return lower begin into wave [v] of ‘C’ very soon.
and wave [v] should begin with an impulse lower and correction higher in waves (i) and (ii).

Tomorrow;
If this triangle pattern is correct,
then 1807 must hold.
And wave (i) of [v] should now fall in five waves into 1750 again.

Watch for wave (i) to continue lower tomorrow.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil is another market that has gone exactly nowhere this week.
The current pattern calls for a five wave rally in wave ‘5’ of (5) to continue higher above 76.50 to complete.
And the action this week seems to be correcting in weave [iv] of ‘5’.
With wave [v] of ‘5’ now underway.

If wave [iv] is a running flat correction,
then the low of wave [iv] at 70.90 should not be broken again.

Tomorrow;
Watch for wave wave [v] to continue higher in five waves with the target set at 76.50.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is running higher this evening and close to breaking out to a new all time high as wave ‘c’ begins.
We should see wave ‘c’ of ‘v’ rally into the upper trend channel line at about 4470.
and once we have that five wave pattern complete in wave (v),
that will close out another pattern to form a top in wave [v] of ‘5’.
and again,
that should open the door to the possibility for another reversal pattern to form.

Tomorrow;
We look to be on course to complete wave ‘v’ of (v) this week.
2 trading days should be enough to complete three waves up in wave ‘v’ as shown.
Watch for a tag of that upper trend line at about 4470.
Then we will see if an impulsive decline begins off that top.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver spiked lower this week and broke that initial support at 24.73 again.
That action signals wave (iii) of [v] is now underway.
And if this is true,
then wave ‘iii’ of (iii) of [v] should push lower for the rest of the week.
The high at wave (ii) of 25.43 must hold for this pattern to remain valid.

Tomorrow;
Watch for wave ‘ii’ of (iii) to complete a corrective lower high below 25.43.
Wave ‘iii’ down will be confirmed with a break of 24.48 again.