Good evening folks.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD continued lower today after an initial drop off the high yesterday evening.
The current short term count count views this decline as the beginning of wave [a] of ‘A’.
I am looking for at least three waves down in wave [a] into next week.
And then a three wave recovery in wave [b].

Tomorrow;
The decline off the high so far is in three waves.
Ideally I would like to see a break of 1.1750 before wave (a) completes.
So the outlook for tomorrow is for more downside in a possible five wave move lower into wave (a).

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has also traced out a three wave decline off the high so far.
Again,
I want to see five waves down off that high to mark a definite turn in trend in wave ‘i’ down as shown.
Wave ‘ii’ will set a lower high by the end of the week.
And then next week should bring a break of support in wave ‘iii’ of (a).

Tomorrow;
Watch for wave (a) down to continue lower in a five wave pattern into the end of the week.

USDJPY.

USDJPY 1hr.

USDJPY 1hr.

USDJPY daily.

USDJPY is again the mirror of the Atlantic pairs today.
Three waves up have formed off that wave (ii) low so far.
the pattern calls for an acceleration higher into a third wave.
So I want to see that develop before the end of this week.

Unitl that acceleration occurs and breaks the recent high of 107.05 again,
then I will have to remain suspect of this weeks action off wave (ii).

Tomorrow;
105.58 must continue to hold at wave ‘ii’.
Wave ‘iii’ of (iii) should continue higher.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has again joined in the rally and we are fast approaching another possible pattern completion this evening.
If we look at wave ‘iv’ of (v) as a running flat,
then tonights rally is wave ‘v’ of (v) of [c].
And this pattern should complete at the upper trend channel line just above us now.

The all time high is also within reach now.
The current wave count does not rule out the possibility of a new high in wave (B) or [B].
Of course it was never part of the original plan!

Tomorrow;
Watch for wave ‘v’ pink to find resistance at that upper trend channel line.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has come off the high at wave (ii) today and so far the price is heading lower in a impulsive fashion
If the main wave count is correct,
then wave ‘ii’ should form another lower high below 1990,
and then wave ‘iii’ down is expected to break back below 1900 at a minimum over the next week or so.

The alternate count calls for a lower high below 1990 in wave [b],
and then once wave [b] completes,
wave [c] should fall back below 1800 in a five wave pattern again.

Tomorrow;
watch for wave ‘ii’ to complete below 1990 tomorrow.
A break of 1900 will signal wave ‘iii’ of (iii) is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has fallen below the previous wave count invalidation point at 42.42 today.
The high of wave (4) now lies at 43.83,
And it is very possible that we have a long term top in place in crude.

Todays action is now viewed as wave (iii) of [i] down as shown.
Wave (iii) should break out into a five wave form.
Todays acceleration to the downside does fit with a third of a third acceleration for sure.

Tomorrow;
Watch for wave (iii) down to remain in force for the rest of the week.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P has a possible five wave rally now in place at one smaller degree into todays highs.
If we view wave ‘iv’ as a running flat,
then wave ‘v’ has completed five waves up off that wave ‘iv’ low.
The price has broken above the upper trend channel line in wave ‘v’ pink.
so now we have a throw-over in wave ‘v’ pink and wave (c) grey.

This pattern gets fuller and fuller every day!
And the bubble is just waiting for a pin to prick it!

Tomorrow;
watch for weakness to develop soon and a drop back below 3500 to end the larger pattern.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver fell in a fairly choppy fashion today which is unlikely the beginning of a third wave down.
It is possible that todays fall is simply wave (b) of a running flat correction in wave [ii].
Wave (c) should create another lower high to complete wave [ii] tomorrow.
And then wave [iii] down will begin by Friday evening.

Wave [iii] down will be confirmed with a break below 26.00.
I would like to see that wave [iii] carry the price down into about 24.00 again.

Tomorrow;
Wave (c) should complete below 28.30 at the wave (a) high.