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

EURUSD.

EURUSD 1hr.

EURUSD 4hr.

EURUSD daily.

A three wave rally today takes the wave ‘ii’ label for now.
If wave ‘ii’ is now complete,
this pattern is calling for a further decline in wave ‘iii’ of three to begin tomorrow.
I suspect wave ‘iii’ of (iii) will fall into the 1.0500 level when complete.
And from there I will look for a correction in wave ‘iv’ next week.

Tomorrow;
Watch for the wave (ii) high to hold at 1.0937.
Wave ‘iii’ will be confirmed with a break of 1.0680.

GBPUSD

GBPUSD 1hr.

GBPUSD 4hr.

GBPUSD daily.

the rally in wave ‘ii’ in cable reached higher than expected,
but so far the price is holding at a lower high below 1.3047,
so the wave count remains valid here.
A turn lower into wave ‘iii’ is now expected,
and a break of the wave ‘i’ low at 1.2833 will confirm that wave has started.

Tomorrow;
watch for wave ‘iii’ of (iii) to begin with a break of 1.2833.
And then the price must continue lower in five waves towards 1.2600.

USDJPY.

USDJPY 1hr.

USDJPY 4hr.

USDJPY daily.

Wave ‘c’ of ‘ii’ fell again today and now we have an expanded flat correction in place for wave ‘ii’.
Wave ‘iii’ of (v) is now expected to push higher beginning tomorrow.
A break of 154.33 will signal that wave ‘iii’ is underway.

Tomorrow;
All this depends on the wave (iv) low holding at 151.28.
Watch for wave ‘ii’ to hold above that level,
and then a rally should begin in wave ‘iii’ of (v).

DOW JONES.

DOW 1hr.

DOW 4hr

DOW daily.

Well,
nothing to report today actually!
the market is holding at the upper trend channel line after a very impulsive looking rally yesterday.
This rally fits the idea of a fifth wave,
and so I have shown a possible five wave rally overall in wave [v] green to fit that reality.
This weeks rally could easily be retraced quickly once reality sets back in.
The damage is done,
and we have avoided consequence so far.
but,
no matter who sits in the WH,
the mean reversion is coming either way.

Tomorrow;
Lets see how wave (v) completes.
there is no reaction to the upper trend line yet.

GOLD

GOLD 1hr.

GOLD 4hr.

GOLD daily.

I have shown two count more clearly tonight for the initial decline into wave [a] of ‘4’.
This can go both ways really,
and there is no way to know the overall pattern in wave [a] yet.

Wave (a) of [a] can trace out three, or five waves down.

The main count suggests a five wave decline off the top in wave (i) of [a].
and that idea requires another drop in wave ‘v’ (i).

The price has traced out three waves down so far off that wave ‘3’ top.
This can be wave (a) of [a] already done.
and in this scenario wave (b) will correct higher in three waves as shown.

It is going to take another week to be more sure of the larger pattern here.
so I will just take each day as it comes.

Tomorrow;
Watch for wave ‘v’ to (i) to turn lower again towards 2600.
A break of 2643 is the minimum target for wave ‘v’ to complete.

CRUDE OIL.

CRUDE OIL 1hr.

CRUDE OIL 4hr.

CRUDE OIL daily.

Crude has rebounded today to a slight new high for the week.
This action is quite messy overall,
but I think a possible wedge pattern in wave (v) may fit what is happening here.
This pattern requires the price to fall into wave [i] down very soon.
so next week will be dominated by that decline if this pattern is correct.

Tomorrow;
Watch for wave (v) of [c] to complete the correction in wave ‘2’ and then turn down into wave [i].

S&P 500.

S&P 500 1hr

S&P 500 4hr

S&P 500 daily.

The S&P is inching slightly higher today as the upper trend line comes into view again.
A clean five wave rally in wave [v] green will complete at that high and then turn lower off that top again.
That is,
if the market agrees with my take,
which it seems unwilling to do overall!

Tomorrow;
I will wait on a top to form in wave (v) blue before looking at the possibility of a turn again.

SILVER.

SILVER 1hr

SILVER 4hr.

SILVER daily.

Silver is holding above the invalidation level at 30.11 again today and that is enough to hold onto this bullish count.
Wave ‘3’ of ‘iii’ really needs to get going here to save this bullish interpretation.
I have marked the wave ‘i’ high at 32.70 as a signal level that a recovery is beginning.
I can’t confirm wave ‘3’ of ‘iii’ until a break above 34.86 again.
That is a long way up at the moment.
so lets see if the price can hold the wave ‘2’ low first at 30.81.

Tomorrow;
Watch for wave ‘3’ of ‘iii’ to continue to build to the upside again to break 32.70.