Good evening folks,

As ever, I pray the Blessings of Messiah Yeshua over you all tonight.

What a day that was eh!

Lets see what the patterns say now.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

There is a hint of a reversal happening this evening as wave ‘B’ reaches the very lower limit allowed in this count.
The price continues to hold above 1.1664 for the moment,
a break of that level will rule out this count.
But if we see a rally back above 1.1800 again that should be enough to signal wave ‘C’ is underway.

Tomorrow;
1.1664 remains the key level in this count.
That marks the low of wave (D).
That level must hold.

Watch for wave [i] of ‘C’ to turn higher again towards 1.1800 again.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

We are close to a five wave pattern lower now off the wave [ii] high.
The price is approaching the low at wave [i] again this evening at 1.3600.
I am looking for a possible break of that low to signal wave [iii] is underway.
This evening s low is labelled wave ‘iii’ of (i) of [iii],
so I expect a correction higher in wave ‘iv’ to begin tomorrow.
and then one more drop in wave ‘v’ of (i) to complete this week.

Tomorrow;
Watch for wave ‘iii’ to find support at 1.3600 again and wave ‘iv’ should then correct higher into 1.3700 over the next days or so.
Wave (i) should complete by Wednesday.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Todays decline is not ideal to be honest,
and this action comes on the heels of many less than ideal patterns developing in USDJPY.
So with that in mind,
I want to show a possible alternate count for wave (2) on the 4hr chart.

This count considers wave (2) as still underway.
And it involves a long drawn out triangle wave ‘B’ within wave (2).
If that triangle is complete now,
then we should expect to see a decline back below 107.40 in wave ‘C’ of (2) over the coming few weeks.

Tomorrow;
If the price breaks below 108.71 that will trigger the alternate count.
Even a break of the low at 109.10 again will be pretty bad for this count.

Watch for wave ‘ii’ to hold above 109.10 overnight.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well, my bearish outlook got a nice booster shot in the arm today!
forgive the timely pun!

A small rethink of the short term count this evening after a pretty sharp decline today.
I have discarded the failed fifth wave idea for wave [v] of ‘5’.
And now the pattern off that high is viewed as a developing five wave form lower in wave [i].
Todays lows can be viewed as wave (iii) of [i].
And wave (iii) has already reached 162% of wave (i) at todays lows.

We should see a correction higher in wave (iv) this week,
and wave (iv) must hold below 34500 at the wave (i) low.
Five waves down off the top will complete wave [i] down possibly next week.
This depends mainly on the size of that wave (iv) correction.

Tomorrow;
Watch for a possible correction in wave (iv) to begin tomorrow and that must hold below 34500 at the wave (i) low.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold should complete a second wave correction this week.
It is still possible that wave [ii] will create one more low towards 1730 in wave ‘v’ of (c).
In this count wave ‘iv’ is a running flat complete at todays high.

In general this wave count is at a very bullish juncture right now.
And if this count is correct,
then we should see a significant rally begin in wave [iii] up by the end of this week.

I want to see wave [ii] complete above 1700,
a break of this level will open up the possibility of a deeper correction in wave (4) than the 1664 low of early August.

Tomorrow;
Watch for wave ‘v’ of (c) to drop once more into the 1730 area to complete the wave [ii] correction.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The count is crude is getting a little more difficult today also.
This action has opened up a possible alternate for wave (4) green,
and this is shown on the 4hr chart.
If we see a impulsive decline pick up steam from here,
then this alternate count may be worth switching to.

Back to the short term chart.
The corrective decline continued today and now it seems we have a [i] [ii] pattern in place to begin wave ‘3’ up.
The price must turn higher soon into wave [iii] for this count to remain valid.
And ideally that rally should begin tomorrow.

Tomorrow;
Watch for wave [ii] to hold above 67.41 at the wave ‘2’ low.
Wave [iii] should begin with a small impulse higher in wave (i) of [iii].

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Todays sharp decline sure has the look of a third wave acceleration as suggested by the count.
The low of this session is close to reaching the 162% extension of wave (i) also.
And the price has broken below the previous wave ‘iv’ low at 4352 again.
All these things are pointing in favor of that reversal pattern that I have been looking for now.
If the top is in here,
and we are now moving lower with a large degree impulsive wave lower,
then we should see five waves down in wave [i] green over the next few sessions.

Tomorrow;
Watch for wave (iii) of [i] to find a low tomorrow around that 2300 level at the Fib extension.
WAve (iv) must complete below 4430 at the wave (i) low.
I would like to see wave (iv) complete below 4350 to be honest,
but time will tell!

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I am counting todays sideways move as wave (iv) of [v] now underway.
Wave (iv) should correct in three waves up towards 22.60 again.
And wave (iv) must complete below 23.37 at wave (i).
Wave (iv) should complete tomorrow and then reverse lower to begin wave (v) of [v].

Tomorrow;
Watch for wave (iv) to complete a rally in wave ‘c’ at about 22.60.