Good evening folks and blessings to you all tonight.

This is an important junction in the stock market, and I do not need to go into the background again in this matter.

I have shown chart after chart after chart over these last few months which paint an astounding picture as to the unhealthy state of the market.

It’s plain to see really when you look at the last few years of economic data, the debt binge bubble is whopping great tumor in the economic body. And it is going to kill that body sooner or later.

It could be sooner if this short term pattern is correct.

on with the show.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We are still not out of wave (b) it seems,
after a spike higher today off that corrective looking low formed over the last few sessions.

Wave (b) is now forming a possible expanded flat correction higher as shown.
Wave ‘c’ of (b) should run up to meet the wave ‘a’ high at 1.1864 to complete that pattern.
Once that flat pattern is finished,
then we can look lower into wave (c) again.

Tomorrow;
Watch for wave ‘c’ to complete near that target area at 1.1864.
A break of 1.1753 again will signal wave (c) is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We have a three wave pattern lower now complete in cable.
This is labelled wave (a) of [a] of ‘D’ within that very large triangle we have been tracking on the daily chart.

If wave (a) is now done,
then wave (b) has started with a spike higher off the low at 1.2885.
The 50% retracement of wave (a) comes in at 1.3183.
So that is the initial target for a three wave correction higher in wave (b).

Tomorrow;
Watch for wave (b) to continue higher in three waves over the coming days.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has completed a three wave decline at the overnight lows of 105.78.
This pattern filled the trend channel and then we saw a spike higher off the low today.

We are at a critical point for USDJPY now,
if this short term bullish pattern is correct,
then we should see a continued rally in wave ‘iii’ tomorrow.
The low at wave ‘ii’ must hold at 105.78.
And a break above 106.55 will signal wave ‘iii’ is underway.

Tomorrow;
Watch for wave ‘iii’ of (iii) to carry higher and accelerate towards the 108.00 area.
105.78 must hold.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The relief rally came in hard today and has carried prices back above 28000 again.
This action is within the scope of both three wave counts now,
which makes this pattern very difficult.

This rally can easily be wave ‘ii’ of (iii) forming a new lower high.
In this case 28350 must hold.
Or,
this could be a rally in wave ‘c’ of (ii) tracing out an expanded flat.
In this case 28350 can be broken to complete wave ‘c’ of (ii).

If yesterdays low was wave (iv) of [v] as per the other alternate count.
then todays rally is only the beginning of the final leg up in wave (v) of [v].

Tomorrow;
28350 is the key level in the short term.
A break of that level will trigger the expanded flat wave (ii) idea.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave [b] is now at a critical point in its structure.
Wave (e) has traced out a three wave rise off the wave (d) low.
This is exactly what the pattern was calling for,
and now we have a completed triangle pattern in place for wave [b].
The next thing to happen is a renewed decline into wave [c].
The target for wave [c] still lies in the area of 1750.

Tomorrow;
1990 marks the high of wave (c).
Wave (e) must not break above the level.

And on the low side,
wave (d) lies at 1905, a break of the level will signal wave [c] is underway.

Tomorrow;
Watch for wave [b] to complete and wave (i) down to begin.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has completed five waves down in wave [i] green at yesterdays lows as shown.
The rally today has now begun a corrective rally in wave [ii].

The form of the rally off the low is in five waves so far.
This suggests wave [ii] is taking the form of a zigzag correction higher.
So we should see a 5.3.5 pattern off the low.

Tomorrow;
Wave [ii] should push up to that 50% retracement level at 40.13 in three waves.
Wave (b) will likely begin tomorrow and then form a higher low above 36.40.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I have shown a different take on the action off the high this evening.

There compression in price that happened on Friday and Monday in the aftermarket trading formed a triangle pattern.
this is now labelled wave ‘iv’ of (i),
with Tuesdays drop completing wave ‘v’ of (i).

Todays rally is labelled wave ‘a’ of (ii) so far.
But the rally did push back into the area of the previous fourth wave already,
and the rally pushed above the 38.2 retracement level.
So this is easily enough to form all of wave (ii) in terms of the size of the move.

Tomorrow;
Watch for wave ‘b’ to drop to a higher low above 3300 in three waves again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The pattern is silver continues to point to a further decline over the coming weeks in wave (C).
the rise today has changed things up a little,
but this action is still viewed as part of a second wave corrective move to form a lower high.
Wave ‘3’ of (C) should begin soon and carry the price lower again.
Wave ‘3’ should push into the low 20’s at the previous wave (A) low.

Tomorrow;
Watch for wave ‘2’ of (C) to complete and then wave ‘3’ begin with a further spike lower to break below 26.00 again.