Good evening folks, the Lord’s Blessings to you all.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

It looks like we have come to the end of a three wave correction in wave ‘iv’ of (c) now,
the price is holding just above the 1.1000 level in wave ‘c’ of ‘iv’.
I suspect we will see a reversal higher by tomorrow evening to begin wave ‘v’ of (c).
And wave ‘v’ will then rally back above 1.1200 at a minimum.

Tomorrow;
Watch for wave ‘iv’ to complete and for a spike rally to begin wave ‘v’.
A break above 1.1100 again will signal wave ‘v’ is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am now beginning to favor the alternate count suggesting a correction in wave ‘iv’ pink.
the main count has not been invalidated yet,
but The fact that the price si failing to accelerate lower today is a strong hint in favor of the alternate count.

I will switch to that alternate count if the price breaks above 1.3150 again.
That level marks the center of the recent price range off the top.

Tomorrow;
An early break down tomorrow will favor the main count for wave ‘iii’ of (i).
Watch for the price to hold below 1.3150.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The main count in USDJPY is being challenged again this evening but I am not switching counts yet.
As long as the price holds above 141.76,
then I will stick with this idea.

I have labelled todays lows as a possible wave ‘ii’ of (i) of [c].
The count suggests wave ‘iii’ of (i) will turn higher soon
And if the price breaks above 145.00 again I think that will signal wave (i) is in play here.

Tomorrow;
Watch for that wave [b] low to hold.
Wave (i) of [c] must continue higher as shown.
And wave ‘iii’ will be confirmed with a break of 145.00.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Despite the lack of progress into wave (i) down today,
I am going to give this pattern another chance over the next few days.
I see one more possibility for a larger wave ‘ii’ correction developing after the action in todays session.

There is a clear three wave drop into the low of the session,
this can be viewed as wave ‘b’ of ‘ii’.
with wave ‘c’ left to rally back out to a new lower high tomorrow.
Three waves up should be done tomorrow,
and then the door will be open for a drop into wave ‘iii’ of (i) later this week.

Tomorrow;
WAtch for wave ‘c’ of ‘ii’ to form a new lower high as shown.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Wave ‘c’ of (v) is really struggling to make that final high this week.
The ending diagonal pattern will be complete with that new high in wave ‘c’ of (v) of [v] of ‘3’.
and from there I will look lower into wave ‘4’.
So this point in the pattern is critical,
the potential for a serious drop into wave ‘4’ is quite elevated here,
so I am watching this pattern with a keen eye this week.

Tomorrow;
Wave (v) must complete at a new high and that will close out a much larger pattern in wave ‘3’ red.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I want to start on the 4hr chart this evening.
I am now working on a new pattern to explain the continued declines over the last week.
The larger degree wave count has not changed.
We are tracking wave (3) down of wave [5] here.

But I do think that wave (3) is more advanced than previously thought.

I am now suggesting the action this week is happening in wave ‘3’ of (3).
and that would explain the extension in the pattern.

Wave ‘3’ blue is shown in more detail in the hourly chart.

The internal pattern of wave ‘3’ blue has a nice five wave form to it after todays decline.
There is an extended wave [iii] of ‘3’ complete at 66.77.
And now wave [v] of ‘3’ has stepped lower again today.

We will see an end to this wave ‘3’ decline pretty soon.
And from that low I will bel looking for a correction higher into wave ‘4’ blue.
that wave can take the price back to the 70.00 handle again.

Tomorrow;
Watch for wave [v] of ‘3’ to close out with one more drop into the 64.00 area.
From there I will look for wave ‘4’ blue to begin.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am looking at a larger wave ‘ii’ in the S&P also tonight.
We have a sideways corrective move in place today in wave ‘b’ of ‘ii’.
and wave ‘c’ of ‘ii’ will complete three waves up tomorrow.
the channel will be closed out at about 5550 so keep an eye on that area to form a lower high.

Tomorrow;
Watch for wave ‘c’ of ‘ii’ to top out at 5550 and then turn lower into wave ‘iii’ of (i).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am showing another interpretation for wave (ii) tonight.
the action today is corrective overall,
but there seems to be more to it to be honest.

I am suggesting that wave ‘b’ of (ii) is still in play here as a possible running flat.
that will allow for wave ‘c’ of (ii) to rise into the 29.00 area before turning lower again into wave ‘c’ of (ii).

Tomorrow;
Watch for wave ‘b’ to close out near 29.00 as a running flat correction.