Good evening to one and all,

God’s Blessings to you all tonight.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD has met the minimum target today at 1.1528.
The pattern within wave (v) is not a five wave structure just yet,
so I am allowing for another drop to sort that out tomorrow.
If we do not see a clear five wave pattern into a new low,
that might suggest wave (iv) is still underway.

Tomorrow;
Watch for wave (v) to develop further into a new low over the coming days.
1.1586 must hold in this scenario.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The high at wave ‘c’ of (ii) is holding today at 1.3673.
This level must continue to hold for the pattern to remain valid.
The main issue here is the form of wave ‘c’,
I remains to be see if this pattern is sufficient to top out wave (ii),
or if something bigger is brewing.

If the price does continue lower tomorrow and we see a break of 1.3410,
that will confirm wave (iii) is underway.
But there is work to do here.

Tomorrow;
Watch for wave wave ‘i’ of (iii) to continue lower.
1.3673 must hold.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘v’ has now traced out a five wave pattern for wave (v) at todays high.
The price corrected overnight and then rallied to a new high today.
this action fits the pattern for wave ‘iv’ and ‘v’ of (v).
Also have a tag of that upper trend channel line.
And the rally in wave [c] has now reached above 100% line of wave [a].

When wave ‘v’ completes,
and that should be soon,
then we should see a strong reversal into wave ‘C’ of (2).

Tomorrow;
Watch for wave (v) to top out and then a reversal pattern to build into wave ‘C’ down.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The market is definitely making a move towards the downside in a more impulsive manner today.
It is possible that wave (c) of [ii] did complete a running flat at yesterdays high.
That pattern is a little strange,
as wave (c) is an ending diagonal,
and wave ‘v’ of (c) failed to make a new high at least on my derivative chart.
with this in mind I am still open to wave (c) turning higher again and breaking the wave (a) high at 35060 again.

We will see soon enough.

Tomorrow;
Lets see if the market continues to the downside and traces out another impulse wave down in wave (i) of [iii].

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

gold is so close to finishing a bullish impulsive wave now that it I can almost taste it!
I have altered the count for wave (i) and (ii) this evening,
but the overall pattern calls from the same outcome.
We need one more drop in wave ‘c’ of (ii) to complete a bullish higher low and then wave (iii) up will be in play.

Tomorrow;
Watch for wave ‘c’ to fall into about 1745 again,
and then wave (ii) will be done.
The low at 1721 must hold.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has dropped slightly today but so far the decline looks corrective.
If the alternate pattern is correct,
then this correction is wave [ii] of ‘5’.
Then we have the option of an extension higher in wave ‘5’ to deal with over the coming weeks.

tomorrow;
It remains to be see if the top is in for wave ‘5’.
If the price turns higher again tomorrow,
that will favor the alternate count for wave ‘5’.
in that cse we can see a possible $90 price tag coming our way as wave ‘5’ extends.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The market is working its way lower today and this action is starting to favor the bearish count now.
The pattern lower in wave ‘i’ of (iii) needs to develop even further if the bearish count is true.
At this point I want to see a sharp decline below 4270 again in order to completely rule o-ut the alternate count for wave [ii].

Tomorrow;
watch for wave ‘i’ of (iii) to continue lower and challenge that recent wave (i) low again.
The real giveaway here will be a bearish lower high in wave ‘ii’ maybe by the end of this week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver may have completed wave (ii) today,
but I am a little uneasy about the form of wave ‘c’.
wave ‘c’ is a three wave structure and that is not ideal.

But the decline in wave (ii) dropped close to the 50% retracement today.
And I will take that as a vote in favor of the bullish count.

Tomorrow;
If the price rallies back towards the wave (i) high tomorrow,
that will be enough to signal wave ‘i’ of (iii) is underway.