Good evening to you folks,

the Lord’s blessings to you all tonight,

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am tracking a small three wave correction higher in EURUSD today.
So far this correction sits nicely in a channel,
and I can label this as wave ‘4’ of ‘c’ as shown.
This correction should lead to another new low in wave ‘5’ of ‘c’.
And the target for wave ‘c’ remains at 1.0096.

Tomorrow;
Watch for wave ‘c’ to complete the larger correction in wave (ii) and then reverse higher to begin wave (iii) up.
Price must hold above 99.51 for this pattern to remain valid.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave (i) completed a nice five wave pattern into this weeks lows,
and now I am watching a three wave pattern higher play out in wave (ii).
Wave ‘c’ of (ii) should complete near 1.2160 ideally.
and then we should see a decline begin into wave (iii) of [iii] by Friday if the action continues to follow the suggested wave count.

Tomorrow;
Watch for wave ‘c’ of (ii) to complete a lower high near 1.2160.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

I have switched to the alternate count for wave ‘B’ today.
the rally today came very close to breaking to a new high and that opened up this new interpretation.

This new count involves a rally in wave [c] of ‘B’ this week.
And if this is correct,
we will see new high above 135.57 in wave [c] to complete wave ‘B’ as shown.

The previous count is not actually invalidated yet,
but I have dropped it back into the alternate position now.
A break of 133.88 at the wave (i) high again will trigger the alternate count again.

Tomorrow;
Watch for wave (iv) and (v) to complete wave [c] above 135.57.
Wave [c] will reach equality with wave [a] at 135.88.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

So far the market has dropped off the highs of wave [ii] and is now holding at a lower high this evening.
I know that this market will turn lower into wave [iii] soon,
but is this the beginning,
that is the question plaguing me this evening.

There is a very small five wave pattern lower that is visible off the top of wave [ii],
but it is way too early in the game to call this a confirmation of my bias yet.
I need more downside,
and I need a break of that previous triangle support at 32720 again,
then I will begin to get excited about the probability of a third of a third wave decline.

So there is a whole lot to play for here.

Tomorrow;
Watch for wave [ii] to hold at this weeks high.
Lets see if we get that long awaited impulsive decline into support beginning tomorrow.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I am looking at todays lows as a better fit for a complete wave ‘i’.
The correction higher yesterday is just too small relative to the decline in wave ‘i’,
so now we have a five wave pattern complete at todays lows in wave ‘i’.
and the gold price has rebounded slightly this evening.
Wave ‘ii’ should begin now,
so this is likely the beginning of that correction.

Tomorrow;
Watch for wave ‘ii’ to trace out three waves up into the previous wave ‘4’ level at 1782 again.
I will be looking for wave ‘iii’ down to then begin by the end of Fridays session.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has found a temporary low at the 85 handle now,
so it seems wave (i) is complete at that low.

I am looking for a correction higher in wave (ii) to trace out three waves up as shown.
The initial rise off wave (ii) today is in three waves,
that completes wave ‘a’ up.
Wave ‘b’ and ‘c’ should complete that correction near the 90.00 handle again by the end of this week.
So we are likely to see a pretty choppy trade over the next few sessions as wave (ii) completes.

Tomorrow;
Watch for wave ‘b’ to hold above 85.40.
Wave ‘c’ is expected to rally into the 50% retracement level at 90.00 by Fridays close.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

When the market is so stretched in its pattern as this one is,
then every decline off a new high has the potential to be the turning point that I am looking for.
It is obviously too early to call,
but I am on edge waiting for that signal to come in wave ‘1’ and ‘2’.
I don’t think we will have enough time this week to complete that bearish impulse wave that I am looking for,
but I would love to see wave ‘1’ down make an attempt at reaching the 4114 low least.

I think that shows you my mindset here,
on edge describes it best!

Tomorrow;
I do hole we will have an impulsive decline in wave ‘1’ in place by the end of this week.
So I want that high at wave (ii) to hold now,
and then the declines to continue tomorrow.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has traced out three waves down into the lows at wave (a) now.
The low of the session reached 19.67,
and now the price has recovered a little off that low this evening.
I want to see wave (b) track higher over the next few sessions,
so this may be the beginning of wave (b) now.

Tomorrow;
Watch for wave (b) to trace out three waves up to a lower high near the 20.20 level again as shown.