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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The price has dropped of Fridays highs and stabilized above the wave ‘2’ low this evening.
The action is corrective to the downside so far today,
and it suggests wave ‘3’ of ‘v’ is underway.
The market should turn up in wave ‘3’ of ‘v’ tomorrow and continue to a new high above 1.1254.

but it is critical that the wave ‘2’ low holds for this count to remain valid.

Tomorrow;
Watch for 1.1068 to hold and wave ‘3’ of ‘v’ to continue higher as shown.
The larger pattern in wave ‘v’ should be done by the end of this week,
with the minimum target for wave ‘v’ at 1.1254.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable is higher today but the price action is still moving within that ending diagonal pattern.
We will see tomorrow if there is a reaction off the upper trend line as wave ‘5’ completes,
A sharp drop off the highs will signal wave ‘v’ of (c) is done,
If this is an ending diagonal in play here,
there is not much room left for this pattern to advance any higher to be honest.

Tomorrow;
Watch for wave ‘v’ to complete in the next few days.
And we should see the initial turn down off the wave [b] top to begin wave [c] by the end of this week.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has corrected off the high created on Friday.
I am suggesting this high is wave (i) complete,
but I am not entirely convinced of that idea either.
There is still a chance that wave (i) blue can accelerate higher to break the next resistance level above 147.00.
We will know soon enough.

For the moment I will be looking for a higher low in wave (ii) blue to form in the next few days.
A 50% retracement of wave (i) gives a target at 142.00 flat.

Tomorrow;
Watch for wave (ii) to complete a three wave correction to 142.00 and then turn higher into wave (iii) by midweek.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

There is little to nothing to write about today as the market sits still at the highs.
The upper channel line is still a possibility for wave (v) to tag.
At this point it will be very easy to hit that level to complete the wave.
As we have drawn to the end of a new five wave pattern in wave [v] green,
it is now time look for a possible reversal off the top again.
I know you are sick of me suggesting this as a possibility.
But no market runs higher for ever.
And every market is susceptible to a crash.
The fact that people still hold on like this cannot happen is amazing to me.
But here we are.

Tomorrow;
we have five waves up in wave (v) blue o the table here,
lets see if the market will recognize this fact and turn over the next few days.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has reached higher today and we are again close to a completed pattern in wave [v] blue.
the price has reached out of the wedge quite convincingly over the last week.
And even so,
I have not changed my view here,
I believe this to be a throw over in wave ‘c’ of (v).
the ending diagonal pattern is still intact.
And once we see a drop back below the wedge formation I think that will spell the end of this rally.

Tomorrow;
Watch for wave (v) blue to close out soon.
the pattern within wave ‘c’ has a completed five wave structure,
and within wave ‘5’ black we have five waves in place.
so it seems we have reached the end of the line for this pattern.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude oil dropped out of Fridays highs today and that suggests wave [a] of ‘4’ is now done at 71.69.
The decline is labelled wave (a) of [b],
and I am looking for a three wave drop in wave [b] this week to break the 68.00 level.
The triangle pattern for wave ‘4’ has not been proved yet,
but this is a good step in the direction.

Tomorrow;
Watch for wave (a) and (b) to form a lower high as shown.
WAve (c) should turn lower again by midweek if this pattern goes to plan.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The market is holding just below the top again this evening and the action looks quite corrective to be honest.
the action suggests wave ‘iv’ is still in play here.
And todays high is wave ‘b’ of ‘iv’.
Wave ‘c’ will drop tomorrow to complete a three wave correction as shown.
Wave ‘v’ will then turn higher later this week in this scenario.

Tomorrow;
Watch for wave ‘c’ of ‘iv’ to drop back to 5650 and to complete.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave ‘ii’ of (iii) is underway today after a small drop off the highs of wave ‘i’.
Wave ‘b’ should complete a lower high early tomorrow,
and then wave ‘c’ is expected to drop again towards 29.70 over the coming days.
If this count is correct,
then we will have a significant higher low opportunity in place by the end of this week in wave ‘ii’ of (iii).
And wave ‘iii’ of (iii) will take silver much higher over the coming week.

I will caveat this statement by once again drawing attention to the alternate count.
We will know later this week which count is the best fit for the action.

tomorrow;
watch for wave ‘ii’ to continue in a three wave corrective pattern as shown.