Oh well,
another day without any election result in the States!
I guess we will have to wait until Friday evening before we know who the next Pres is.

Let me tell you where I think this is going no matter who wins this election.

I pray that this is not the outcome,
but the cards are on the table already.

The U.S is now on the precipice of a massive period of social unrest.

If Donald Trump wins,
antifa, blm and all their demonic minions already have battle plans laid up and ready to be put into action.
There will be riots and looting for months,
they will attack police and civil authorities.
The national guard will be called in to fight a street war.

It has the makings of a replay of the riots in the 60’s or maybe Belfast in the 70’s, but on a much larger scale.

They will push and push until they get a seat at the table and try to compromise from within.

If Biden wins,
they will shut the economy down again without a doubt.
They will resurrect the Iran deal and allow Iran a free pass in the middle east.
That will lead to a major regional war,
with Irans main aim to attack and overrun Israel.
they will try to their hand at Saudi arabia also.

China will be let loose.
And Taiwan is in their sights.
I would not like to be the leaders of Taiwan right now,
facing the possibility of a compromised president with a weak foreign policy.

The world will be rudderless with Biden at the helm, and the world will slide into a great depression.

Add to that every little dictator with dreams of grandeur will have at it,
safe in the knowledge that they will not be stopped.
I am thinking sultan erdogan in turkey and the like.

Either way,
there is a storm a coming.
Better get right with God.

Down to business.

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

The action in cable today has pretty much ruled out the idea that wave [c] is underway.

I have reverted to a larger wave [b] idea as shown on the hourly chart.
Wave (c) of [b] is expected to continue higher and fill out that trend channel,
and wave (c) should complete in the area of 1.32 again.
Then I will look for wave [c] to begin off that high and drop down towards the 1.25 area in five waves.

Tomorrow;
Watch for wave (c) to trace out a five wave rally and hit the upper trend channel line to complete wave [b].

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

The action in cable today has pretty much ruled out the idea that wave [c] is underway.

Tomorrow;
Watch for wave (c) to trace out a five wave rally and hit the upper trend channel line to complete wave [b].

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

USDJPY dropped again today and now I am now looking at this whole pattern in wave [v] in a different light.

There is a good chance that we are seeing an ending diagonal wave ‘C’ of (E) now unfolding.
Wave ‘C’ is a convoluted pattern for sure,
but it can be viewed as a series of five separate three wave moves.

Wave [v] of ‘C’ is shown on the hourly chart.
waves (a) and (b) of [v] are in place.
And wave (c) of [v] is now underway.
This should trace out a three wave pattern lower and complete next week.

Tomorrow;
Watch for wave ‘b’ to correct higher in three waves and complete near 104.63.

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

No doubt tomorrows video is going to require a whole lotta talking through the different scenarios that are popping up in the market now.
So watch out for that one.

I still cant call it between a straight forward three wave zigzag rally in wave [ii],
or an impulsive rally out of the alternate wave ‘4’.
The rally looks extended now in wave [ii]
going by how overbought the market has become off the recent lows.
So I suspect we will see a selloff begin soon off this lower high.

The question is this;
will the next selloff be impulsive to begin wave [iii] of ‘3’.
Or a three wave correction in wave [ii] of ‘5’.

The market does not seem to know what it wants to do at the moment.
I am happy to stick with the bearish count as long as we see a decline begin tomorrow in wave (i) of [iii].
But I can not call it now,
and that is frustrating for sure!

Tomorrow;
Watch for the high at wave ‘2’ to hold and wave (i) of [iii] of ‘3’ to begin with a sharp move lower.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

You all know that I am a long term bull on gold,
and have been for years,
but just because gold rallied today,
I really don’t think we are out of the woods yet in this correction.
Let me explain.

The short term count in gold took a hit today and ruled out the triangle scenario I laid out for wave ‘B’.
But todays action has brought forth another possibility for wave ‘B’.

This involves a possible three wave combination pattern.
Three sets of three wave moves all making a larger corrective pattern higher.

Todays rally has all but completed a three wave pattern in wave [c] of ‘B’.
The price has filled a trend channel in wave ‘B’.
And if wee see a move back below 1915 again that should begin wave [i] of ‘C’.

Tomorrow;
Watch for wave [v] of ‘B’ to complete soon.
The first resistance level above us now lies at 1973.
Lets see if that will offer enough resistance to complete wave ‘B’.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Wave [ii] may be drawing to a close tonight after a contracting rise into the session high.
This action can be viewed as an ending diagonal wave (c).
But this pattern requires a sharp move down off the high to begin wave (i) of [iii].

Tomorrow;
Watch for wave (i) to begin with a drop below 37.40 at the previous wave (b) low.

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P stands at the same cross roads as the Dow this evening.
Another rally to a lower high is starting to lean in favor of the alternate count for a triangle in wave ‘4’ blue.
The alternate count calls for wave [d] of ‘4’ to hold below 3548 at the wave [b] high.
And the decline into wave [e] should now begin.

The main count is still valid, but is under serious pressure right now.
Only a break below the wave ‘1’ low at 3210 can confirm wave ‘3’ down.
But if we see a five wave decline to break 3326 at wave (b),
that will raise the confidence level in this count.

Tomorrow;
Watch for wave (i) down to fall sharply towards 3326.
3548 must hold in both wave counts now.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is on the verge of triggering another new count for wave ‘B’ this evening.
The price is threatening to break 25.54 at the previous wave [a] high.
A break of this level will rule out the triangle scenario for wave ‘4’.

If that happens,
I will switch to a three wave correction in wave ‘B’ as shown circled in red.

As with gold,
I am a bull long term,
but I do not view this recent rally as anything but a relief before the next leg down into wave (c).

Tomorrow;
Watch for wave [c] to hold below 25.54,
and wave [d] to begin a three wave decline into the 23.00 handle again.