Good evening lads and ladies,

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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD moved higher off a low at 1.1683,
The price dropped into that very tight range above 1.1664 and then rallied,
which has proved the pattern so far at least.

Right now,
we have a low in place for wave ‘B’ and we should see a rally continue higher in five waves in wave ‘C’.

Tomorrow;
Watch for wave [i] of ‘C’ to trace out five waves up towards 1.1800 again.
This will take a few days,
but my Monday evening we should have wave [i] in place.

1.1664 must hold.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A sharp rally today has begun a three wave pattern higher into wave (ii).
Todays high is labelled wave ‘a’ of (i),
Wave ‘b’ and ‘c’ should complete a lower high in the 1.3800 area.
And then we can look for a third of a third decline in wave [iii] green early next week.

Tomorrow;
Watch for wave ‘b’ to fall again and hold above 1.3609.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Todays rally does indeed favor the bullish count,
In this case the rally must continue above 110.79 in five waves to confirm the bullish count.

But I can’t completely disregard that triangle wave ‘B’ idea on the 4hr chart either.
If this alternate count is correct,
then wee will see a sharp decline next week.
The alternate count will remain a valid idea until 110.44 is broken.

Tomorrow;
Watch for wave ‘iii’ to break 110.44 to rule out the alternate triangle idea.
And then a break above 110.79 will confirm wave (i) of [iii] is underway.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Todays rally has dealt a heavy blow to the bearish count at least in the short term.
I have switched to an alternate count showing a series of impulsive patterns off the high.
The rally in wave (ii) has retraced into the area of the triangle wave ‘iv’.
If this count is correct,
then this area should offer a reasonable level of resistance now.
Ideally this rally will halt tomorrow and the price will reverse quite sharply.
If that does not happen,
then I will have to reconsider the larger wave count.

Tomorrow;
Watch for wave (ii) to complete with a sharp reversal.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The short term count in gold is really under pressure also today.
The price has fallen in three waves so far,
so this still counts as a possible wave (ii) for the moment.
If the price breaks 1742 again,
then I will switch to an alternate count for wave [ii] green as shown in those ominous red boxes!

Tomorrow;
1742 must hold.
If the price rallies again and break 1787 at wave (i),
then the bullish count is safe and I can consider wave (iii) underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

With another spike higher today off a correction in wave (ii),
the action does now suggest wave (iii) is underway.
Wave ‘i’ of (iii) should be complete now,
and wave ‘ii’ will correct soon to a further higher low above 72.00.
wave ‘iii’ of (iii) of [iii] is what we are waiting for now.

Tomorrow;
Watch for wave wave (ii) to hold at 71.59.
There is pretty heavy resistance at 73.93 from the wave ‘B’ to in early August.
So a break of that level will signal wave ‘iii’ of (iii) is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

If this weeks action has shown me anything it is that there is absolutely no fear at all in this market.
I have altered the wave count this evening to show a five wave decline into the recent low in wave [i].
and this rebound is labelled wave [ii].
There is an extended rally in wave (c) of [ii] for sure,
but this is is still a reasonable explanation of the action so far.
This rally has just broken the 62% retracement level of the decline.
So if there is to be a third wave decline,
then it better start tomorrow!

Tomorrow;
Watch for wave [ii] to top out now.
A decline back below 4406 at the wave (a) high will be a signal that wave (i) of [iii] has begun.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Todays action has completed a small impulsive move lower off the wave (iv) high.
I have labelled this action as waves ‘i’ and ‘ii’ of (v).
Wave ‘iii’ of (v) should begin tomorrow and I expect a break of 22.00 again in wave ‘iii’.

Tomorrow;
There is not much longer to wait now for silver to find a final low for this pattern.

Watch for wave (v) to continue lower as suggested.
Wave (v) should hit the 21.00 handle to complete.
So I think we will be looking for a bullish reversal to begin next week.