Good evening Ladies and Gents,

The Lord’s Blessings to you tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The rally off the lows seems to have come to a halt today.
With this in mind,
I think it is reasonable to suggest that wave [a] is now tracing out three waves up,
to complete with a break of 1.1805 at a minimum.
This pattern should lead to a 3,3,5 flat correction pattern overall in wave (E).

Tomorrow;
Watch for wave (b) of [a] to complete at about 1.1720.
that should lead to a rally in wave (c) to break 1.1800 again by Friday.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The sideways movement in cable today is in line with a possible wave (ii) correction now.
The price should complete wave (ii) tomorrow,
and then wave (iii) should run higher to break 1.3880 again.
A break of that level will confirm this pattern for wave ‘2’ overall.

Tomorrow;
Watch for wave (ii) to hold above 1.3602 at the very lower end.
A break of that level will invalidate this count.
Wave (iii) up should begin before tomorrows close.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The low of the session today marks the end of wave (ii) at 109.40.
The price did spike higher off that low.
And now I am looking at the possibility that wave ‘i’ of (iii) up is now underway.
If that is true,
then wave (ii) must hold above 109.40.
And wave ‘i’ of (iii) msut break above 110.23 at a minimum.

Tomorrow;
watch for wave ‘i’ to push above 110.23.
109.40 should hold.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has done exactly nothing today which is good if the main wave count is correct here.
We still have a three wave rally to a lower high in a possible wave (ii).
The market has stalled at the 78.6% retracement of the decline in wave (i).
And now wave (iii) is waiting for a reversal back below 34560 to confirm the pattern.

This count will obviously be ruled out if we get a break of that all time high again.

Tomorrow;
Lets see if wave (iii) down can pull the price lower again
and raise the prospects for a topping pattern in play here.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I want to see wave ‘v’ of (v) push into that main resistance level at 1831 again
in order to really confirm the idea that we have a major low now in place here at 1662.

At the moment the price is close to completing five wave up in wave (v) blue.
This wave should end near the resistance line at 1835 at least.
So there is room for another small push higher before we turn lower again into wave [ii] later this week.

Tomorrow;
Watch for wave (v) to pop once more towards 1835.
A break of wave (iv) again at 1776 will signal wave [ii] has begun.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude is moving closer to that initial resistance line at 69.41 again today.
the price is close to completing five wave up also as shown.

I suspect that wave ‘1’ will complete very close to that resistance line this week.
Then I will look for a correction lower in wave ‘2’ to begin next week.

for the moment there is a little more room above us to complete wave ‘1’.

Tomorrow;
Watch for wave [v] of ‘1’ to complete the rally with a push towards 69.40 again.
Wave ‘2’ should see a decline back into the 65 handle again next week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is another market that has plateaued today!
It seems todays move is a small corrective consolidation within wave ‘c’ of ‘v’.
So we can expect another pop tomorrow in wave ‘c’.
Actually if we do see another move higher tomorrow that may well bring the pattern to a close again.

Why 4553;
I have updated the 4hr chart tonight with a Fibonacci puzzle that is intriguing to me!

If we take the height of wave wave ‘i’ pink.
Then project that Fibonacci grid off the beginning of wave ‘i’,
we get 4355 at the 161.8% extension – almost exactly the low of wave ‘iv’.
And we get 4553 at the 261.8% extension.

Take the same wave ‘i’ Fib grid and project it off the intermediate low of wave ‘iii’
and we get 4553 at the 161.8% extension.

Take the same wave ‘i’ Fib grid and project it off the wave ‘iv’ low
and we get 4550 at the 100% level.

If nothing else, the symmetry is quite nice!

Tomorrow;
Watch for wave ‘c’ of ‘v’ to pop once more to complete a possible three waves up in wave ‘v’.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has almost completed five waves up in wave ‘c’ of (iv).
The minimum target is 24.03 so another few cents will do it for wave ‘c’.
This should happen early morning tomorrow and then I will be looking for a reversal into wave (v) to begin.
If we see a drop below 22.87 at the wave ‘b’ low,
then we can expect wave (v) to continue lower into that 21.00 area over the coming days.

Tomorrow;
Watch for wave ‘c’ to complete and then reverse into wave ‘i’ of (v).