Good evening everyone.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave (iv) and (v) have taken another step into a larger pattern formation.
Mostly because wave (iv) is now labelled as a running flat and todays new high pushes wave (v) towards a larger five wave move to the upside.

Tomorrow;
Wave (v) is approaching a full five wave pattern now.
Wave ‘iii’ of (v) is complete at todays highs,
wave ‘iv’ and ‘v’ wont take long.

We are still on track to complete wave (C) this week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable pushed out of the triangle formation that I was looking at last night.
The market broke 1.3141 and continued up towards the next target level at 1.3281.
A thrust from a triangle is the final move in any pattern.
So I still expect wave ‘C’ to complete this week and then we can properly focus on the downside again in wave (i) down.

Tomorrow;
Lets see if there is a reaction off the next resistance level that can put and end to the rally in wave ‘C’.

USDJPY.

USDJPY 1hr.

USDJPY 1hr.

USDJPY daily.

Here is where USDJPY gets interesting.
The pattern in wave [ii] is close to completing an expanded flat correction.
Wave (c) of that pattern has a clear five wave form.
And we have now reached the low of wave (a).
A turn higher off this level will signal wave [ii] is complete and wave [iii] is underway.

Tomorrow;
Watch for wave (c) to fins a low above 104.19.
The next move higher should be sharp and fast to begin wave (i) of [iii].

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is still stuck in a holding pattern again today.
The market has gone essentially nowhere for the last five trading days.
This reminds me of the action around the all time high in February,
where the market went sideways for a full two weeks before falling into the abyss in wave (A).

I am allowing this pattern time to form a triangle in wave ‘iv’.
We should be close to the end of that pattern now.
So one last thrust higher to complete five waves in wave (c) is due.

Tomorrow;
Watch for the triangle to complete in wave ‘iv’.
The price must hold above 27624 at the lowest point of this pattern.
if that level breaks the triangle will be ruled out.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold took an early hit today and has recovered back above 2000 again this evening.
but this move lower may well be the initial spike to begin wave [c] down.
Wave (c) of [b] has a five wave pattern internally just as you might expect.
Wave [b] now has a 3,3,5 flat pattern in place.
So, if we break 1975 again tomorrow that will signal wave [c] is underway.

Tomorrow;
Watch for the high at wave [b] to hold.
1975 is the level to watch for a reversal into wave [c] to begin.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crawling towards disaster is what I am calling this action in crude oil.
The ending diagonal in wave ‘C’ is still holding onto the price for now.
And it will do until we complete a final three waves up in wave [v] of ‘C’.

Wave (B) traced out a triangle and now we are moving higher into wave (c) of [v].
This should be the last leg of the pattern.
so a significant move lower is expected soon.

Tomorrow;
Watch for a rally in wave ‘c’ of (c) to hit the upper trend line again before we see any turn lower again.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P pips higher to create a new all time high only to cower back below the line again this evening.
The action over the last few weeks is looking suspiciously like an ending diagonal pattern also.
We have a snails pace crawl higher on a continuing diverging long term momentum.
We have hit the target that was on everyone’s mind throughout this mess!
Back to par has been the goal of the FED and the explicit policy of the U.S govt from the beginning,
so here we are,
now what?

Tomorrow;
This pattern will complete as every pattern does eventually.
And the result of such a narrow and breadth-less rally has always been a complete collapse.

The price does not want to escape from this trend line bound march so far.
If the price turns down impulsively from here it could well be the beginning of the next leg.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is hitting a wall at the 78.6% retracement level after a three wave move higher in wave (B).
Todays spike lower is a signal that this correction is now over.
And the next move should be down in five waves to a new low for wave [2] over the next week or more.

Tomorrow;
Watch for (C) to begin off these highs.
A break of the wave ‘B’ low at 25.73 will signal wave (C) is in force.