Good evening to one and all.

I will have to ask your forgiveness tonight
for this update will be short and sweet.

I have been trying to get over a stomach bug for the last few days,
but it came back with vengeance today!
So I am wiped out I’m afraid.

I am pretty sure that I will be firing on all cylinders by tomorrow, God willing.

Ok,
on with the show!

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave (a) of [b] seems complete now after a three wave rally this week.
Wave (b) should come in tomorrow and fall again in a three wave pattern to a higher low above 1.1611.
WAve [b] is sill on target to complete this week.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

Cable has dropped off Mondays high,
but this could be a three wave correction within wave ‘c’ as shown.
I expect wave ‘c’ should complete below 1.3010 by tomorrow.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

It is still hard to call if wave (iv) is done and todays rise is the beginning of wave (v).
If that is the case,
wave (v) may be tracing out an ending diagonal pattern.
In that case we may not reach the target high at 106.30 at all.
A break of 105.26 will signal wave (iv) has begun.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Progress is slow today in the DOW.
Wave ‘a’ down has not traced out a five wave decline yet.
I want to see a break of 27100 at the wave ‘a’ high to call the larger wave (ii) complete.
The market must continue lower tomorrow and wave (ii) must hold.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

No sign of a turn into wave (v) of [c] just yet.
This rally is a little more that expected for sure,
but I dont think it is enough to rule out a larger decline into wave [c].
Only a break of 1932 will do that.

Tomorrow should see a reversal to begin wave (v).
A break of 1876 will signal wave (v) is underway.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The reversal into wave (iii) began today with a pretty convincing spike lower to break the wave (i) low.
We must see a follow through over the next few days to rule out a three wave decline off the high.

Waves ‘i’ and ‘ii’ should create another lower high and hold below the 40 handle ideally.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

There was a small reversal today off the wave (ii) high.
This is not enough to confirm wave (iii) has begun though.
I want to see a break of the wave ‘a’ high to be more convinced of that.
So watch for a break of 3279 in wave ‘i’ of (iii).

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Wave ‘4’ has completed a three wave recovery higher and hit the upper trend line at at todays highs.
The price has now met the previous fourth wave high also.
So now we can look for a reversal into wave ‘5’ over the coming days.

A break of 23.30 will be the first signal that wave ‘5’ is underway.