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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

EURUSD is working its way higher into wave (ii) again today.
the price has stepped higher into wave ‘c’ and the action is forming a higher low this evening.
Wave ‘1’ and ‘2’ of ‘c’ are now in place.
Wave ‘c’ should trace out five waves up as shown.
And the 50% retracement level is the initial target at 1.0988.

Tomorrow;
Watch for three waves up into wave (ii) complete at 1.0988.
A break of wave ‘b’ at 1.0830 again will signal wave (ii) has completed.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

I am changing up the wave count today with the larger pattern now in place in wave (i) down.
Wave (i) did not achieve what I wanted,
but the low on Friday did break the previous wave (a) high.
and that does put the recent decline into the same general size range of the previous rally.
This can be seen on the 4hr chart.

So,
If wave (i) is done,
then wave (ii) is now underway.

A simple three wave pattern higher into wave (ii) is expected to break 1.3100 at the 50% retracement level of wave (i).
We will see how this new count develops,
if the price continues to step higher,
then this count will be confirmed.

Tomorrow;
Watch for wave (ii) to continue higher in a three wave pattern as shown.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY is stuck in a tight sideways correction today and I am calling this wave ‘2’ of ‘c’.
If wave ‘c’ is now underway,
then we should see a five wave pattern head lower towards 150.00 over the coming days as shown.
Wave (iv) is expected to complete this week,
and if this pattern is correct,
then wave (v) will turn higher next week again.

Tomorrow;
Watch for the wave ‘b’ high to hold at 153.09.
Wave ‘c’ will trace out five waves down into the 150.00 handle again over the coming days.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

The Dow is showing three waves down into todays lows with a rebound in place this evening.
I am labelling this wave ‘b’ of ‘ii’ at the moment.
this action suggests wave ‘ii’ is a possible expanded flat correction.
And in this scenario wave ‘c’ of (ii) will rally back to the 50% retracement level at 42500 as shown.
If all goes well,
then a rally will come in tomorrow and then Wednesdays trade should turn lower into wave ‘iii’ of (i) again.

Tomorrow;
Watch for wave ‘ii’ to complete by tomorrow evening with a rally into 42500.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

Gold is showing a smaller lower high this evening in wave ‘2’ of ‘iii’.
the wave ‘ii’ high lies at 2761,
and that level must hold for this count to remain valid.
Wave ‘iii’ must now continue lower in five waves as shown.
With a break of the previous wave (iii) high at 2685 as the initial target for wave ‘iii’ pink.

Tomorrow;
Watch for wave ‘ii’ to hold.
Wave ‘iii’ down should turn sharply lower tomorrow as shown.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

I have simplified the chart today by reverting to the alternate count for wave ‘2’ blue.
The price climbed higher again today which invalidated Fridays count.
and now I am looking for wave [c] of ‘2’ to reach 72.30 again to complete.
This will break the previous wave [a] high.
and then the price will turn lower again into wave [i] of ‘3’ for the rest of this week.

Tomorrow;
Watch for a break of the wave [a] high at 72.26 to complete wave ‘2’.
Wave [i] of ‘3’ will turn lower again by midweek in this scenario.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

I am leaving the door open for the S&P to build the long awaited five wave decline this week.
there is a possible count shown on the hourly chart tonight for wave ‘i’.
But we need more downside to confirm that idea.
A rally to break above 5760 again will further complicate this idea.
So again I am waiting in the wings for an impulse pattern to build this week.

Tomorrow;
Lets see if wave ‘5’ of ‘i’ can break to a new low below 5678.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

I have big questions for this wave count in silver at the moment.
And today the market did not answer positively.
A rally in wave ‘3’ of ‘iii’ of (iii) is called for here to confirm the pattern.
This pattern has a big potential upside,
but,
if we see a break below the 30.00 level again,
that will rule out this bullish count for a least a few months.
I will cross that bridge if we get to it,
but for the moment,
this market needs a rally to confirm the count.

Tomorrow;
Watch for wave ‘3’ of ‘iii’ to turn higher to confirm this bullish pattern.