Good evening folks and the Lord’s blessings to you.

We actually had a hurricane come through here on Friday night last and to be honest we are only just now getting over it.
Where I live got hit quite hard,
We were looking out out window at 3am watching trees come down and rooves go flying!
It was wild!

we have lots of people out of power and water across the county,
but thanks be to God,
there was very little human cost to the event.
One man did lose his life when a tree fell on his car.

Our school is closed this week because of damage,
The kids are all at home.
so I have not looked at my email today at all yet.
I will get back to you if you are waiting on me!

Its been a wild one.
But we are good.

Now down to business.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD seems to be topping out in wave (i) today with a turn off the highs again.
The rally in wave (i) has not retraced all of the previous wave (v).
But we are close enough to begin looking for a turn.

I am looking at a drop back towards 1.03509 in wave (ii) this week.
And that should be a clean three waves down hopefully.

Tomorrow;
watch for wave ‘a’ of (ii) to fall back into 1.04 and then a lower high can build in wave ‘b’.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am looking for a rally in wave (i) blue in cable also this week.
the rally off the lows has not traced out five waves up yet.
So I need to give this rally a little more time to develop.
I want to see the price hold above 1.2300 in any corrective move now.
Wave ‘iv’ should hold above that level.
Wave (i) should complete this week.

Tomorrow;
watch for wave ‘iii’ to top out and then a decline into wave ‘iv’ will occur from there.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY turned lower again today and that creates a new low for wave (ii) blue.
Wave ‘c’ of (ii) is now close to hitting that 50% retracement level,
which is a more favorable level for that correction to complete.
The main count still calls for wave (ii) up to begin this week,
so lets see if that can begin with a rally in wave ‘i’ of (iii) over the coming few days.

Tomorrow;
watch for wave ‘5’ of ‘c’ to complete at or near the 50% retracement level at 153.30.
Wave ‘i’ should push back above 157.00 again later this week.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

This pattern in wave ‘c’ of (ii) is completely stretched now,
and I gotta expect it to be broken over the next few days in all likelihood.
There is still a lower high in place here,
but for wave (ii),
but the market flat out refuses to turn down into a third wave yet.
It is too close to call at the moment,
unless there is a capitulation tomorrow,
then I can expect this pattern to be invalidated.

Tomorrow;
It is up to the market to decide if we hit a new high,
or if we move into wave (iii) down.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold has moved back off the highs in three waves so far and this is a hint at the completion of wave (c) of [b] at last weeks highs.
If we see a drop back below the previous wave ‘iv’ lows at 2690 again,
that will be a strong signal that wave (i) of [c] has begun.

Tomorrow;
Watch for wave ‘i’ of (i) to fall back into support at the wave ‘iv’ lows at 2690 to signal wave (i) of [c] has begun.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

If we start on the 4hr chart we can see that the price has come off the top of the wave (2) high quite significantly now.
Todays decline has dropped the price back below the previous wave [iv] lows,
and also broken the 200 MA at the lows.
All this action does favor the idea that wave (2) has topped out and wave (3) down is underway.

The short term count is not clear cut yet.
There is a possible five wave decline in play for wave [i].
But I would like to see another drop back below support to complete the larger pattern.
It looks like we will see a correction higher beginning soon,
and that is what I will be looking for this week.

Tomorrow;
watch for wave (v) to [i] to complete with one more drop below support at 72.45.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

We finished the trade last week with a new all time high,
and we start this week with a sharp and impulsive looking decline back into the previous range.

There is a possibility that todays move is wave ‘i’ down again,
and that is what I am leading with.
so lets see if we get a lower high in wave ‘ii’ over the next few days.

Tomorrow;
Watch for wave ‘ii’ to complete below last weeks high in a three wave corrective pattern.
If that happen,
then I will look forward to wave ‘iii’ down.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver has dropped off in a three wave pattern so far it seems.
I have not confirmed wave ‘i’ down yet because of the form of this move,
I want to see a break of the wave ‘b’ lows at 29.50 to confirm that idea.

From there it is a simple ‘i’ ‘ii’ count that I am looking for as shown.
That will confirm we have a larger turn in play here in wave (iii) down.

Tomorrow;
watch for wave ‘i’ down to fall into the previous wave ‘b’ lows at 29.50 to signal wave ‘i’ is in play.