Good evening folks, shalom to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Yesterdays declines in EURUSD were promising for wave (c) down,
but that move lower was mostly retraced today which forces a rethink of the short term count.

Todays rally is now viewed as wave ‘c’ of a larger wave (b).
This will target the 1.1917 area again and should then be followed by a sharp move lower into wave (c) of [a].

Tomorrow;
watch for wave ‘c’ of (b) to complete near that target area.
A decline back below 1.1737 again will signal wave (c) is underway.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A three wave decline off the wave (a) high overnight,
has formed a higher low in wave (b) above the wave [a] low.

Cable is now running higher again off that low
and this move should begin wave (c) of of [b] as shown.
Wave (c) should trace out a five wave pattern to the upside and target the 1.3100 area to complete wave [b].

Tomorrow;
watch for wave (c) to continue up in a five wave pattern.
the 50% retracement of wave [a] will bring us up to 1.3122 again.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has completed a three wave correction in wave ‘iv’
and another five wave decline in wave ‘v’ pink at todays lows.

This action should complete wave (iii) blue,
and if so,
wave (iv) should now retrace upwards in a three wave pattern tomorrow.
it may take a few days for wave (iv) to complete before wave (v) falls again to break support at 104.19.

Tomorrow;
watch for wave (iv) to correct higher into the 105.17 area in three waves.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The DOW has fallen in five waves off the wave [ii] high today.
This is now labelled as wave (i) of [iii] into the session lows.

Off the low at wave (i),
we see a three wave rally to a further lower high in wave (ii).
And now the price has spiked lower again off that wave (ii) high.

If this short term count is correct,
then we are lining up for a significant decline in wave (iii) over the coming days.

Tomorrow;
Watch for wave [ii] to hold at the 28350 level.
Wave [iii] down will be confirmed with a break of 27180.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold moved lower in what appears to be a five wave move today.
This action signals the correction in wave [b] is now complete.
And wave (i) of [c] is underway off the 1973 high.

Todays action is significant,
because, if we see a clear lower high form in wave (ii) over the coming days,
That will leave the door open for an acceleration lower in wave (iii) of [c] early next week.

Wave (iii) will most likely break the wave [a] low at 1861 in short order.

Tomorrow;
Watch for wave (iii) of [c] to complete that lower high by tomorrow evening.
1973 must hold.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Well crude oil has now retraced a significant amount of the previous declines in wave [i].
The price broke above the 62% retracement level today at 41.00.
And wave (c) of [ii] has broken the 161.8% extension of wave (a) at the high.

This move has the hallmarks of a ‘too far too fast’ scenario.
and I do not think it is sustainable.
Which also supports the idea of a (c) wave rally.

Tomorrow;
I want to see this rally come to an end in wave [ii].
Wave [iii] down should begin off a nearby high.
Any drop below 38.65 again will signal wave (i) of [iii] is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The action in the S&P is very interesting this evening.
We now have a bearish signal in place off the highs in wave (i) and (ii).
With wave (ii) forming a pretty standard corrective three wave pattern.

And then today we see a spike lower which forms five waves on my chart labelled wave ‘i’.
And again a correction higher in wave ‘ii’ this evening.

At this moment the action is signaling that wave (iii) down is underway.
And a break of the 3290 level will be a confirmation of wave (iii).

Tomorrow;
Watch for wave ‘ii’ to hold at todays highs.
Wave ‘iii’ of (iii) will break 3296 at the wave (i) low.
And then continue lower into the 3200 level.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

There has not been an acceleration into wave ‘3’ this week as I expected.
But the action that has played out is still within the realm of that bearish count.

I have marked this evenings lower high as wave [ii] of ‘3’,
with a further decline into wave [iii] of ‘3’ expected next week.

Tomorrow;
That 27.60 level should continue to hold,
and wave ‘3’ down will be confirmed with a break of 25.83.

watch for wave [iii] down to begin with a break of 26.25.