Good evening friends.

Ok, here we go!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is working well within that larger wave [b] idea today.
The price fell in three waves off the wave (a) high to a higher low in wave (b).
Wave (c) should now continue higher and break the wave (a) high to complete wave [b] pretty soon.

Tomorrow;
Watch for wave [b] to complete a three wave correction and then we should expect wave [c] to then fall again below 1.1700 at a minimum.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Wave (b) is certainly pushing the boundaries of what I expected today.
The rally off the recent low at 1.3052 has traced out a three wave for so far.
This still suggests wave (c) is coming and we should see a drop in five waves back below 1.30 at a minimum.

Tomorrow;
The high at 1.3266 should hold as wave (b) completes.
A drop back below 1.3052 again will confirm wave (c) is underway.
And that should rule out any extension of the previous wave [c] of ‘C’.

USDJPY.

USDJPY 1hr.

USDJPY 1hr.

USDJPY daily.

USDJPY fell today against the wave ‘iii’ idea I was working with.
All is not lost though,
as I think we may be looking at a larger wave ‘i’ and ‘ii’ scenario now.

The decline we saw today is in three waves off the high labelled wave ‘i’.
So wave ‘ii’ must now hold above 105.44 and then rally poswerfully for the rest of the week in wave ‘iii’ of (iii).

The alternate count is also valid and still suggests more upside.

Tomorrow;
Watch for wave ‘ii’ to complete above 105.44 and then rally again into wave ‘iii’.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW is holding below the highs of the week as we com into the close this evening.
This decline off that wave (B) high is small and maybe insignificant to most,
but it has the ‘right look’ for a small degree bearish impulse wave.

Todays corrective action is in three waves and creating a lower high.
The trend channel up to that point was filled out and the overall pattern up to this point is about as developed as you could ever want.
The market seems poised for a reversal,
We can only wait to see if that reversal comes!

Tomorrow;
watch for the high to hold again and for another impulsive move to the downside to build towards 27450.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold burst back into life today and the action has triggered the alternate idea for wave (ii).
Wave (ii) is now tracing out an expanded flat pattern.
I would expect wave ‘c’ of (ii) to hit the high of wave ‘a’ at 1962 again before rolling over into wave (iii).

Tomorrow;
Watch for wave (ii) to complete at that target high.
Any weakness off that point will signal wave (iii) down has begun.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

we seem to have five waves up in place this evening in wave (c) of [v].
The pattern is now filled out for that larger ending diagonal wave ‘C’ in blue.
And now I am willing to begin looking lower again for a impulse wave to build to the downside.

Tomorrow;
watch for wave (c) of [v] to close out soon.
this does not rule out more upside in the short term,
but I think the upside is very limited right now.

It would be very fitting if crude oil did turn lower again before the stock market.
As that would be a continuation of the cycle that has been in place for over two years now.
We will soon see.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Speculators are laughing all the way to the bank tonight!
The party will never end according to that cohort anyway.

I have fleshed out the alternate count this evening off that wave [iv] low shown circled in red.
Wave [v] green is now in operation in this scenario.
And wave [v] is tracing out a large three wave move as would be expected in an ending diagonal.

Wave (c) of [v] is also well developed as we can see a clear five wave pattern all but complete into the highs.
Wave ‘v’ of (c) will likely trace out a clear five wave move also.

You can see that wave [v] itself has now filled a trend channel at the sessions highs,
another hint of a completing pattern.

All in all,
it the end of the line now.

Tomorrow;
As with the DOW its time we saw reversal begin off this completed pattern.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave [c] of ‘B’ rallied up to that 2754 target today and the move came with a spike higher also.
Wave ‘B’ is now looking complete,
and with that I suspect we will begin to fall off into wave ‘C’ down before Fridays close.

Tomorrow;
Wave ‘B’ should not break the high at 28.44.
if that happens,
then we might have something entirely different going on here.

watch for wave ‘C’ to turn lower and break 25.73 to confirm.
Wave ‘C’ should trace out a five wave move to the downside and the target remains at the 22.00 area.