Good evening lads and ladies,

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

Three waves up in place in stocks today, and a possible five wave pattern building in gold. This may well get very interesting next week.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

I am altering the main count very slightly today.
Wave ‘B’ is still gripping onto the price action all week,
and today was another day of corrective sideways grinding.
This can be explained by a simple extension within wave (iii) of [c] as shown by the pink labels.
The recent low marks wave (iii).
And now the correction in wave (iv) is underway.
Wave (v) should drop again below 1.1700 to complete thigh count.

Tomorrow;
watch for wave (v) of [c] to complete with a break of 1.1700 again.
Wave [c] must hold above 1.1664.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I think todays new low can be viewed as the completion of wave (i) down.
And now we have a small spike higher off the low to begin wave (ii).
This small spike is labelled wave ‘a’ of (ii).
And wave ‘a’ should break above 1.37 with ease.
wave (ii) is expected to rally into the 50% retracement level at 1.3790 in three waves.
Wave (ii) may well complete by Friday.
And that opens up next weeks trade for an acceleration lower into wave (iii) of [iii].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The main wave count has held on by the skin of its teeth today.
Wave ‘ii’ held above the invalidation line at 109.10 by a mere couple of pips.
The main count is still very vulnerable though.
And only a rally back above 110.79 will confirm it now.
So watch that alternate count for a corrective lower high in wave [ii] as shown in the red box.
A decline back below 109.10 again will signal wave [iii] down is underway.

Tomorrow;
Watch for a substantial rally to confirm the bullish count soon.
Otherwise the alternate pattern will be triggered before the end of this week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The current impulsive formation off the top was at risk from breaking today,
but so far the low at wave (i) has held.
There is a three wave correction now in place for wave (iv).
the price has dropped off the high of wave ‘c’ this evening,
and as long as we see a follow through to the downside tomorrow,
then this count is still the favored scenario.

Tomorrow;
Watch for wave (iv) to hold below 34560.
Wave (v) down should break 33620 at a minimum.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has held a sideways corrective formation today
and so far this action counts as a correction in wave ‘iv’ of (i) as shown.
Wave ‘iv’ must hold above 1766 at wave ‘i’.
and wave ‘v’ of (i) must push higher again towards 1800 by the end of the week to complete five waves up in wave (i).
A break of the previous wave (b) at 1808 will pretty much confirm the bullish pattern here.
And next week we can look for wave (ii) to form a higher low above 1742.
And (iii) to rally powerfully next week.

Tomorrow;
Watch for wave ‘v’ of (i) to push higher and complete five waves up over the next few sessions.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Todays we have a move higher off a correction in wave [ii].
This move is enough to signal that wave [iii] up is now underway finally.
We should see a small correction to a higher low in wave (ii) begin tomorrow and then by next week we should see a rally in wave (iii) of [iii].
This rally should push above 76.00 again.

Tomorrow;
Watch for wave (ii) to complete a correction above 70.00 again by Friday.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

We have a nice three wave correction higher in place in the S&P also today.
The market has held below the wave (i) low at 4434,
and with that the overall impulsive pattern off the high remains valid.
The margin between waves (i) and (iv) is quite tight right now,
so I want to see the price drop again tomorrow in an impulsive fashion to begin wave (v).
A break of 4330 again will signal wave (v) is underway.

Tomorrow;
Watch for wave (iv) to hold below 4434.
Wave ‘i’ of (v) must begin tomorrow.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver creeped to a very slight new high today but overall the action this week has been very corrective looking.
Wave (iv) of [v] is still the best interpretation for this move I suspect.
And wave (v) down should begin this week.
As long as the low at wave (i) holds at 23.37,
then wave (v) down with a target below 21.00 again what I expect.

Tomorrow;
Watch for wave ‘i’ of (v) to fall off todays highs.
Wave ‘i’ should fall into the 22.40 level again.