Good evening folks and the Lord’s blessings to you. Thanks to John Hussman for all these charts, worth a read as always. https://www.hussmanfunds.com/category/comment/

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

Wave ‘ii’ has failed to begin again today so I must revisit the count for wave ‘i’.
the internal pattern can be viewed a little different for wave ‘5’ of ‘i’.
And now we see todays decline completing a five wave pattern within wave ‘5’ black.
I am confident that wave ‘ii’ will begin this week,
and if the market breaks back above 1.09 again that will be considered wave ‘a’ of ‘ii’.

Tomorrow;
watch for wave ‘ii’ pink to begin with a rise back above 1.09.
Wave ‘5’ of ‘i’ should complete early tomorrow.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

A similar decline in cable today has not broken the pattern here though.
the low today is viewed as wave ‘b’ of ‘ii’.
And wave ‘c’ should rally back towards 1.3200 to complete the correction in wave ‘ii’ later in the week.
Even if wave ‘b’ makes a new low by breaking 1.2974,
that will suggest wave ‘ii’ is an expanded flat correction,
rather than a simple flat as shown.

Tomorrow;
Watch for wave ‘c’ to turn higher and complete three waves up near 1.3200 over the coming days.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY has rallied again today and the price is now moving back into pattern again.
Wave ‘3’ of ‘v’ should push back to the 1.52 area to complete as shown.
And the larger wave ‘v’ is expected to take the rest of the week to reach the end of its pattern.
If this pattern for wave ‘v’ goes according to plan,
then wave ‘v’ will top out near 154.00.

Tomorrow;
Watch for wave ‘3’ of ‘v’ to continue higher as shown with a possible target at 152.00 to complete.
The price must now hold above 149.08 for this pattern to remain valid.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

An interesting drop off the top today to begin the week in a more upbeat mood on my part!

There is nothing to be read into this move yet,
I need five waves down to break 42000 this week,
in order to give this pattern a chance to gain traction.
Todays move is a step in the right direction so lets see if the market can follow through again over the coming days.

Tomorrow;
Watch for wave ‘i’ down to trace out five waves over the coming days.
A break of 42000 again will give this pattern a boost.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

A rip to a new high today has now been reversed quite impulsively.
I am calling wave ‘iii’ now complete at this high,
and wave ‘iv’ is underway as we speak.
Wave ‘iv’ should trace out three waves down over the next few days.
And I suspect the price will find support at the previous wave (iii) highs at 2685.

Tomorrow;
Wave ‘a’ of ‘iv’ is now underway.
The price should form a lower high in wave ‘b’ as shown before midweek.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

There are now two counts active for wave ‘1’ blue.
The main count has not changed today.
the rally in wave [iv] is underway now with the session highs marking the wave (a) top,
wave (b) and (c) will complete the correction later in the week below 71.22.

The alternate count count actually shows wave ‘1’ blue complete at the recent lows.
And in that case wave ‘2’ is now underway.
If the price breaks above the wave [i] low at 71.22 again that will signal wave ‘2’ is underway.

Tomorrow;
Watch for wave [iv] to continue sideways as shown and complete below 71.22.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

Nothing to write home about in the S&P yet.

The price is lower today but so far we only have a three wave pattern in place off the highs.
I am hopeful that wave ‘v’ pink is complete at last weeks top.
But that remains to be seen.
Only a drop back to support at 5670 will signal the possibility of a turn again.

Tomorrow;
Lets see if the high at wave ‘5’ of ‘v’ will hold to allow a turn off the highs in wave ‘i’ this week.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

The price has returned off the high today but the drop is not large enough yet to signal wave ‘3’ of ‘iii’ is done.
I am looking for a correction to into wave ‘4’ this week.
But I am going to allow another day to see if wave ‘3’ can top out first.
A top in wave ‘3’ at 34.70 will reach the upper trend channel and then I can look for a turn again in wave ‘4’ of ‘iii’.

tomorrow;
Watch for wave ‘3’ to step higher once more to hit the upper channel line,
and then correction into wave ‘4’ can begin later this week.