The Lord’s Blessings to you all again tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We are very close to that minimum target for wave ‘C’ of (D) now.
1.1703 marks the low of wave ‘A’,
and wave ‘C’ will reach the initial target with a break of that level.

I am still running with the idea that wave [v] of ‘C’ will extend lower in a clear five wave form.
But I think we are close to the end of this decline phase now.

There are two ways of interpreting the wave [v] decline as shown this evening.
The decline off the triangle wave [iv] can be viewed as wave (i) of [v].

but if we view wave [iv] as a flat correction
then todays low can be viewed as wave (iii) of [v] now in place.

Tomorrow;
Watch for wave (ii) of [v] to begin a corrective rise in three waves into 1.1800 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

the action in cable is very slow indeed this week.

I still have one eye on the alternate count here.
And if this decline off 1.3984 is wave [b],
then we will see an impulsive spike higher beginning tomorrow and this will rule out the main count.

For the moment I am willing to give the benefit of the doubt to the main count.

Tomorrow;
Watch for wave ‘iii’ of (iii) of [i] to continue lower into 1.3700.
this action will confirm the main count for wave [i] of ‘3’.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Well the bullish pattern is hard to deny now.
The price topped this evening with a tag of that initial resistance level at 110.60.
The rally into this level is in three waves so far,
and todays highs are viewed as wave (iii) of [i] of ‘3’.

The new alternate count for this action is is shown in red.
This involves an even larger wave ‘2’ correction.
and in this case todays top is wave [b] of ‘2’.

Tomorrow;
Watch for wave (iii) of [i] to top out,
and wave (iv) should correct sideways over the coming few sessions.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is closing out at a new all time high this evening as wave ‘3’ of ‘v’ reaches its peak.
The next few sessions will be characterized by another weak correction in wave ‘4’,
followed by a rally into wave ‘5’ of ‘v’ by the end of the week.

Did you know that Fridays date is 8/13/21.
This is a Fibonacci sequence date!
Wouldn’t it be sweet if wave ‘v’ of (c) of [v] of ‘5’ of (5) of [5] would top out on a Fibonacci sequence date!
A man can dream eh!

Tomorrow;
The pattern continues nonetheless.

Watch for wave ‘3’ of ‘v’ to top out and we should see a correction in wave ‘4’.
Wave ‘4’ should hold above 35126 at the wave ‘1’ high.

The wave ‘iv’ must hold.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The gold market is trading very quietly since that fat finger sale!
The market seems to be hesitant to rule out another decline,
and so the price is holding below the rebound high at wave (iv).

I am viewing the low of the session as wave ‘i’ of (v) of [v].
the pattern allows for another low to form in wave (v) blue,
but I am not ruling out the alternate count here either.

I do think we will have a clear idea at the end of this week if we should turn bullish into that alternate count.

Tomorrow;
Watch for wave ‘ii’ of (v) to form a small lower high before falling sharply into wave ‘iii’ of (v).

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has created another lower high below wave [ii] this evening and for the moment I am viewing this as wave (ii) of [iii].
If this is correct,
then we should see a further acceleration lower beginning tomorrow in wave (iii) of [iii] of ‘3’.
This wave has the potential to be substantial,
where wave (iii) of [iii] could easily break the 60 handle again.
A break of the 65.00 level again should confirm wave (iii) is underway.
From now on I want to see the high at wave [ii] of 69.98 hold.
this level should not break in the bearish setup.

Tomorrow;
Watch for wave (iii) down to turn lower and break the wave (i) low again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The price action is getting very constrained during this last week.
With an ever tightening wedge forming around the price now.
And give the main wave count here,
this funnel should spell the end of this bull run in wave (v) of [v].

Tomorrow;
The short term pattern will still allow for a little more upside into that upper trend line now.
Wave ‘c’ of ‘v’ should pop above and then give up the ghost in an impulsive manner.

Watch for the pattern to come to a close possibly by tomorrow evening.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave (v) of [v] should now be underway this evening.
The price has formed a small impulsive wave lower off the wave (iv) high.
This is labelled wave ‘i’ and ‘ii’ down.
And this should lead to a decline into wave ‘iii’ of (v) for the rest of the week.

Tomorrow;
Watch for the wave (iv) high to hold at 24.00 again.
this level should not be broken as wave (v) completes.