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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Well,
I am now getting worried that we will not see a rally into wave ‘3’ of ‘v’ at all.
the action today should have begun a clear five wave pattern higher into wave ‘3’,
but instead we got a lower high.
I am suggesting that wave ‘2’ is changing to an expanded flat correction instead of a running flat.
This idea will allow for wave ‘2’ to drop back below 1.1067 and then rally into wave ‘3’.
But I must admit,
the patter is looking shaky now,
and we may already have a fifth wave top in place here.

Tomorrow;
Watch for wave ‘2’ of ‘v’ to complete as shown.
A rally above 1.1213 again will signal wave ‘3’ is underway.
If 1.1000 is broken,
that will signal wave [b] is already done.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable pushed higher again to rule out last nights count.
The price only fell in three waves at the lows.
and that now takes the wave ‘4’ label,
and wave ‘5’ has rallied out to a new high this evening.

Tomorrow;
The main count for wave (c) of [b] is still intact here.
but the top of wave ‘v’ is proving a difficult pattern to nail.
Once we see a drop back below the wave ‘iii’ top at 1.3266 again that will signal a turn is in play.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is stuck in a corrective sideways move today but the price is holding up quite well overall.
Wave ‘ii’ of (iii) is moving along here but I don’t think it is complete just yet.
Another drop overnight into the 144.00 level will complete the correction,
and then tomorrow I can look for wave ‘iii’ to turn higher again.

If this count is correct,
then next week should bring a solid rally in wave ‘iii’ of (iii) with a likely target near 148.00

Tomorrow;
Watch for wave ‘ii’ to hold above the wave (ii) low at 142.90.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

I am actually afraid to comment on the stock market today given that we have a possible top,
and a rally back to a lower high.
the market is holding below the highs as I write,
but there is nothing to stop a break out above again to invalidate the wave (v) pattern again.
I am going to see what tomorrow brings.

Tomorrow;
Watch for wave (v) to top out and confirm a turn with a drop back below 41580.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has put in a top with a small spike decline today.
The rally has gotten incredibly tight over the last week with the action happening within a very narrow channel.
This new high has broken two channels to the upside to create a throw over,
and the momentum continues to slide on the 4hr and daily charts.
I am waiting for wave (iv) to start off the current highs,
but until we get a drop back into the trend channel again,
I have very little to work with.

Tomorrow;
Watch for wave (iii) to top and then price to turn into wave ‘a’ of (iv) over the coming days.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude turned lower hard today and the price hit the target level for wave [b] already,
I didn’t expect to to be so quick,
but this price action is moving in line with the triangle count now.

If the price continues to fall back below the wave ‘3’ lows again at 64.80,
that will signal that wave ‘4’ blue is not moving in a triangle,
but rather wave ‘4’ has completed at the previous highs.
I will cross that bridge if we come to it!

Tomorrow;
Watch for wave [b] of ‘4’ to form a low tomorrow,
a rally back above 69.00 again will signal wave [c] is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is holding below yesterdays highs tonight as I write.
I wont read anything into this pattern yet unless we get a solid follow through to the downside again.
So I’m afraid I am going to wait and see if this action closes out wave (v) blue tomorrow,
and should the market drop again and move towards 5500 again then I will get interested.

Tomorrow;
Lets see if the market will favor a top for wave (v) and turn lower again to close out the week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver managed to push higher to complete a five wave rally in wave ‘5’ black today.
the price then fell off that top with a nice spike lower.
The price is holding below that high so far this evening so tomorrows trade will be a test to see if wave ‘ii’ can begin.

Tomorrow;
Watch for wave ‘a’ of ‘ii’ to fall back into the range of the previous triangle wave ‘4’ at about 30.66.