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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

We have a possible wave ‘3’ decline in place at todays low.
The price must correct into wave ‘4’ and then step lower again into wave ‘5’ in this scenario.
I want to see a break of the wave ‘iv’ low at 1.1000 to give more weight to the idea that we have a large turn in play here.

Tomorrow;
Watch for wave ‘i’ to break below the support at wave ‘iv’ and complete five waves down.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

cable is hanging at the lows of the session tonight,
but we dont have a five wave decline complete yet.
I want to see a clear five wave pattern into wave ‘i’ pink by the close of this weeks trade.
And I would like to see wave ‘i’ complete near 1.31 ideally.

Tomorrow;
Wave ‘3’ will close out early tomorrow with a small spike lower,
and then wave ‘4’ should correct sideways again as shown.
A final drop into wave ‘5’ will probably wait until Friday.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

A nice spike higher today in USDJPY has hit the previous high at wave (i) again.
So far the rally has only traced out three waves up,
I think a five wave pattern in wave ‘i’ will break clearly above the the wave (i) high at 146.48.
And once that happens,
I will look for a bullish higher low in wave ‘ii’ to begin.

Tomorrow;
Watch for wave ‘i’ to complete with a break of the high at 146.48.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is holding flat today below that wave ‘2’ lower high.
There is nothing yet to raise the hopes of a top in place for wave (B),
So I’m afraid I am going to hold off on this one for the moment,
with the quiet expectation of a drop into wave (i) building.

Tomorrow;
Watch for wave ‘iii’ of (i) to drag the market lower from here.
A break of 41000 again will be a good area for wave ‘ii’ to hit.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Watching the gold market is like watching paint dry this week.
The upside momentum has dropped off for sure,
and now the market is struggling with the idea of a correction into wave (iv).
I am looking for a more substantial drop in wave ‘a’ of (iv) with a low in the 2600 area.
If that happens I will be more confident with this wave count.

Tomorrow;
WAtch for wave ‘a’ of (iv) to complete three waves down with a drop into 2600.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I have discarded the triangle idea for wave ‘4’ tonight because the price reached a double top with the wave [a] high.
the price action has traced out three waves up overall in wave ‘4’ now.
So I have switched to that alternate count for wave ‘4’ blue this evening.
This count requires a sharp decline into wave [i] of ‘5’ from here.
So lets see if the price will turn lower again tomorrow.

Tomorrow;
Watch for wave (iii) to fall back into the 68.00 level to signal that wave [i] is underway.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Only three waves down in the S&P so far today.
That suggests a correction is underway here off that recent top.
I am leaving the door open for a larger drop to begin wave (i) here,
but the price action has not turned impulsive to the downside yet.

Tomorrow;
Watch for a follow through into 5500 again to signal wave (i) is in play.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Three waves up in wave ‘b’ today and a sharp drop off the close out the session.
I am calling wave ‘b’ complete at the highs,
and now wave ‘c’ of ‘ii’ should take over for the next few days.
Wave ‘c’ should fall into the 30.00 level again to complete by the end of this week.

Tomorrow;
Watch for wave ‘b’ to hold at the session high.
Wave ‘c’ should fall in five waves and reach the 30.00 area to complete three waves down in wave ‘ii’.