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

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EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Ok that move has proved the wave count for wave ‘c’ of (iii) today.
A sharp move lower out of that fourth wave correction came in wave ‘5’ of ‘c’ of (iii) today.
And now EURUSD has dropped back into the lower trend channel line this evening.

I am following an ending diagonal pattern in that larger wave [c] of ‘2’.
This third wave down looks done now in wave (iii) of [c].
There is more to come in wave [c],
but for the next few sessions we should get a corrective move higher in wave (iv) as shown.

Tomorrow;
Wave ‘a’ and ‘c’ have now reached equality today,
so watch for wave (iii) to find a final low near the current level.
WAve (iv) will be confirmed with a break above 1.0750 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

WAve ‘v’ of (v) has made a new low again today and that action seems to confirm the pattern in wave ‘iv’.
And now the price has broken out of that correction in wave ‘iv’
and price has made a new low for this wave (v) decline,
it seems to me that we are close to completing that larger pattern in wave (v) of [i].
I will be looking for that low in wave [i] to come in tomorrow;

Tomorrow;
Watch for wave ‘v’ down to complete the larger pattern in the area of 1.2350.
A break back above 1.2500 again will signal wave [ii] has begun.
That correction higher in wave [ii] will take up all of next weeks trade.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has done almost nothing today and I can not add much to last nights ideas to be honest.
We do not have a completed pattern in wave (iv) yet.
The pattern requires one more step lower to break 145.89 at the wave ‘a’ low.
I will wait and see if that comes our way tomorrow.

Tomorrow;
Wave ‘c’ is yet to turn lower again in five waves so that needs to start tomorrow.
Watch for a break of 145.89 to confirm that wave ‘c’ is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well I gotta say I am a little annoyed by todays action but that is life as they say.

The main wave count stands for the moment.
Todays rally has now created a larger three wave correction in wave ‘ii’ pink.
the market is holding below the previous wave (ii) high again as I write.
And wave ‘ii’ has reached the 78.6% retracement level of wave ‘i’.

I am going to give this pattern another day to see if wave ‘ii’ continues to hold below the resistance at wave (ii).
But I will admit that this pattern is very close to invalidation at the moment.

Tomorrow;
Watch for the market to hold below 35000 in wave ‘ii’,
and for wave ‘iii’ of (iii) to reverse lower to retrace all of todays rally.

If the market does break above the highs at wave (ii) again,
that will trigger the alternate count for wave (ii) as shown.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has bounced off the session lows again this evening and I am calling wave ‘i’ complete at the session low at 1901.
WAve ‘ii’ is expected to start very soon and rally in three waves towards the 1930 level at wave ‘4’ black.
Wave ‘ii’ will take a few sessions to complete so it looks like the action in gold is going to get choppy until the middle of next week.

Tomorrow;
Watch for wave ‘i’ and ‘ii’ to complete a lower high over the coming days.
Wave ‘ii’ should trace out three waves up into 1930.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude got on that rally train also today and that has put a hold on the bearish reversal that I spoke about last night.
Wave (v) blue has achieved enough upside now to call that wave complete.
And the larger pattern in wave [v] of ‘C’ is complete also.

Back in April Crude was rallying hard and broke back above the 83.00 on the 12th of the month,
the consensus was all in for 100 oil again by the summer.
But,
what actually happened was a complete reversal and retracement of the previous rally.
Of course no one saw that move coming,
and no one see the market reversing lower this time either.

We have a nice pattern complete in wave (4) now at these highs.
The expanded flat correction is complete,
and it is time for another big decline to come our way in wave (5).

Tomorrow;
WAtch for a signal that wave ‘v’ of (V) is done with a sharp drop back off theses highs.
A break of 86.00 again will signal that the top is in for wave ‘C’ of (4).

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am not about to let go of this bearish pattern for wave ‘ii’ just yet even after todays sharp rally to a new lower high.
At the moment the market is holding the lower high in wave ‘ii’.
The 78.6% retracement has not been hit yet,
so I am looking for that level to hold this rally in wave ‘ii’.

Wave ‘iii’ down should begin with a sharp drop in wave ‘1’ to break the support at 4428 again.
I would like to see that reversal happen early next week.

Tomorrow;
Watch for wave ‘1’ of ‘iii’ to begin with a retracement of todays rally.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has almost invalidated the bullish alternate count on the 4hr chart now.
A break of 22.20 again will do that.

At the moment it seems the main wave count is well in force here.
Wave (iii) down will trace out five waves down as shown and I am looking for a low in wave (iii) to break the 20.00 level again.
And wave ‘iii’ of (iii) will do most of the work to achieve that goal.

If wave ‘i’ and ‘ii’ of (iii) are complete this week,
then wave ‘iii’ pink will fall into that target next week.

Tomorrow;
watch for wave ‘iii’ down to be confirmed with a break of 22.21 again.
The high at wave ‘ii’ must hold at 23.13.