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

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EURUSD.

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EURUSD 4hr.

EURUSD daily.

The price dropped off the wave ‘4’ high today and now it seems wave ‘5’ of ‘c’ is in play here.
The price should make a new low at the lower trend line near 1.0645 to complete wave ‘c’ pretty soon.
and when that wave is done,
then I will look higher into wave (iv) blue for the rest of the week.

Tomorrow it is possible that we will get that final low in wave ‘c’ of (iii) early tomorrow and wave (iv) will start before the end of the session.
Watch for wave ‘5’ of ‘c’ to make a new low near 1.0645 to complete.

GBPUSD

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GBPUSD daily.

WAve ‘iii’ of (v) is now close to complete this evening after the price turned lower again today.
the price has not fully retraced the wave ‘4’ rally yet,
so we should see a break of 1.2445 again to complete this pattern in wave ‘iii’.
and then I will look for wave ‘iv’ pink to begin.
There is a tight constraint on that wave ‘iv’ rally.
It must complete below the wave ‘i’ low at 1.2547.
So the lower we get in wave ‘iii’,
the safer this wave count will be from invalidation.

Tomorrow;
Watch for wave ‘5’ of ‘iii’ to drop into the 1.2400 level to complete.
Wave ‘iv’ should correct higher from there.

USDJPY.

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USDJPY daily.

Three waves up in wave ‘b’ is now in place at the session high this evening.
the pattern is holding at a lower high below the wave (iii) top so far.
And the internal pattern off that wave (iii) top is in line with a possible flat correction in wave (iv) now.
that pattern suggests a five wave decline into wave ‘c’ is coming later this week.

Tomorrow;
Watch for wave ‘c’ to turn lower again as suggested.
Wave ‘c’ should trace out five waves down to complete the larger wave (iv) near 144.50 again if this pattern is correct.

DOW JONES.

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I don’t know what to say about todays action other than it is pretty wild in every direction.
this can be explained by a corrective process,
but I will admit that the main wave count is under pressure here.
The rally off the possible wave ‘i’ low is still corrective looking to the upside.
I have labelled a possible three wave pattern complete at todays highs.
this pattern involves an extended wave ‘a’,
and a short sharp wave ‘c’ to complete today.
the price has dropped back off the highs of the session with an equally sharp move.

And because of that I can stick with the idea of a bearish reversal underway here.

Obviously I would rather see the market commit to the downside in wave ‘iii’ as per the main count.
But I am forced to wait and see again today.

Tomorrow;
Watch for wave ‘ii’ to hold at todays highs.
That correction has gone far enough.

Wave ‘1’ of ‘iii’ should break below 34280 to get the pattern back on the right track again.

GOLD

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GOLD daily.

Gold turned lower out of the corrective wave ‘ii’ top again today.
the price has broken the wave ‘i’ low again today,
and this action suggests that wave ‘iii’ is now underway.
Wave ‘iii’ must now continue lower in five waves again and I would like to see wave ‘iii’ break below the 1880 level again when complete.

I have shown a possible alternate for wave ‘i’ and ‘ii’ also tonight.
A break above 1930 again will trigger this count.

Tomorrow;
Wave ‘1’ of ‘iii’ is not yet complete so this pattern requires another drop into 1900 again to finish that wave.

CRUDE OIL.

CRUDE OIL 1hr.

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CRUDE OIL daily.

Wave (v) accelerated higher again today which has confirmed the short term count.
The rally today does fit the description of a third wave up,
so that takes the wave ‘iii’ label.
Wave ‘iv’ and ‘v’ is left to complete five waves up and I suspect we will see a top in wave (v) above 90.00 again.

Tomorrow;
Watch for wave ‘iii’ to complete with one more push above 89.00.
Wave ‘iv’ and ‘v’ should complete before the end of the week.

S&P 500.

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S&P 500 4hr

S&P 500 daily.

The S&P has reversed off the top of wave ‘ii’ again tonight.
I am not sure what to make of the pattern today to be honest.
Mondays high is holding again today,
so I am calling that the top of wave ‘ii’.
The action off that top is not impulsive yet,
but I will give it some more time to see if it does get impulsive to the downside tomorrow.

Tomorrow;
Watch for wave ‘1’ to fall back below 4428 again to confirm this pattern.
The rest of the week should be dominated by the downside if this short term pattern is correct.
wave ‘1’ of ‘iii’ should break 4428 at a minimum.

SILVER.

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SILVER daily.

Silver has completed waves ‘a’ and ‘b’ of ‘ii’ at todays lows.
the support of wave ‘i’ continues to hold tonight.
And the price has risen back off that support again as I write.
I can call this small rally wave ‘c’ of ‘ii’ now underway,
and I am looking for a break of 23.21 at a minimum.
And wave ‘c’ should top out near 23.90 at the upper end.

Tomorrow;
Watch for wave ‘c’ to close this pattern out as suggested.
Wave ‘ii’ will be done by Thursday evening at the latest.