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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Another five wave pattern lower is now in place for EURUSD.
The action today is very weak to the downside,
so the decline has stabilized for now,
I am looking for a turn higher into wave ‘ii’ from here,
and if we see a break of 1.1000 again that will signal wave ‘ii’ has begun.

tomorrow;
Watch for wave ‘a’ of ‘ii’ to turn higher to break 1.10.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The price action today continues in a corrective fashion,
so I am suggesting that wave ‘4’ is still in play here and the price may be stuck in this correction for another day before turning lower again into wave ‘5’.

Tomorrow;
The larger wave ‘i’ will complete by the end of this week ideally,
and then wave ‘ii’ should begin next week.
A break of 1.3000 will be a boost to the larger wave count.
watch for wave ‘4’ to complete then turn lower into wave ‘5’ of ‘i’.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

The rally in USDJPY today can be viewed as the beginning of wave ‘v’ of (iii) now,
after a break above the top of wave ‘iii’ again.
I have marked that as the alternate count at the moment.

In the main count,
The session high today is still shown as wave ‘b’ of ‘iv’.
but the pattern is now an expanded flat,
and wave ‘c’ of ‘iv’ should turn lower again by tomorrow evening.

Tomorrow;
Watch for wave ‘c’ of ‘iv’ to turn lower again and break below the wave ‘a’ low at 147.33.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Off we go again!
The market is pumped again today after a the release of the fed minutes.
I don’t see why to be honest!
It seems like the type of move that will be wiped out pretty quickly,
but the feckless dream world continues in wave (v) blue for the moment.

The lows this week now take the wave ‘iv’ label,
and we track higher now in wave ‘v’ again.

Tomorrow;
Watch for this rally to hit a new high and then top the larger wave (v) blue.
The upper trend channel line will allow for a continued rally in wave ‘v’ pink.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

The action today brings the price close to the lower trend line again in wave ‘c’ of ‘a’.
This three wave drop is all but done now in wave ‘a’,
so I am looking for a corrective move higher into wave ‘b’ over the coming days.
The pattern in wave ‘b’ suggests a high at 2660 again,
this level will equal the previous wave ‘b’ in black.
and we should see a clean three wave pattern at that high.

Wave ‘b’ pink will bring us into next week for sure so its going to be a choppy few days ahead in this scenario.

Tomorrow;
Watch for wave ‘a’ to find a low in the 2600 area before turning higher into wave ‘b’.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

The drop off wave (2) is very tight so the wave count is pretty crowded.
But I think the price has traced out five waves down off the highs at the session lows.
The rebound is set to trace out three waves up to a lower high now,
with the current highs marking wave (a) of [ii].
We should see a top in wave [ii] before the end of the week,
and I will look for a turn into wave [iii] next week.

Tomorrow;
watch for wave (b) and (c) to complete three waves up in wave [ii] by Friday evening.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P made a new high today in a run higher into wave ‘v’ again.
the alternate count was triggered,
and now I must wait again for this new this leg up complete wave (v) blue.
The larger channel in wave (v) would allow for a 6000 handle to be hit in wave ‘v’,
however mush I find that repulsive,
it is a reality now.

Tomorrow;
Lets see if there is a reaction to the rally today that will fill out the internal pattern for wave ‘v’ a bit more.
A higher low will suggest wave ‘2’ of ‘v’ is in play.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is bouncing along the lows of the session this evening and the action does look corrective overall today.
I am looking for one more drop to break 30.00 again to complete wave ‘c’ of ‘ii’,
and from there I can begin to look for a turn higher again in wave ‘iii’ of (iii).

Tomorrow;
Watch for wave ‘c’ of ‘ii’ to complete with a break of the 30.00 level.
the 62% retracement level lies at 29.60,
so that marks the lower end of the target range.